2012 Year End Blue Book by Coldwell Banker Commercial

2012

Blue Book

Year End Market Review Supplement to Real Estate Forum

Check out the NEW

MARKET SNAPSHOTS cbcworldwide.com

CONTENTS AL - Birmingham AL - Dothan/Houston County AL - Montgomery AK - Anchorage AZ - Sedona/Verde Valley AR - Little Rock CA - Bakersfield CA - Chico CA - Inland Empire CA - Inland Empire North/Victor Valley CA - Long Beach/South Bay CA - Los Angeles/Los Angeles, West CA - Los Angeles, Westside CA - Merced MSA CA - Modesto CA - Napa Valley/Napa County CA - Newport Beach CA - Oakland/East Bay CA - Orange County CA - Riverside/South West CA - San Gabriel/San Fernando Valleys CA - San Mateo County/Peninsula CO - Western CT - Fairfield County DE - Sussex County FL - Boca Raton/Palm Beach County FL - Daytona Beach/Ormond Beach FL - Deltona FL - Florida Keys/Key West FL - Fort Lauderdale/Broward County FL - Gainesville FL - Jacksonville FL - Lakeland/Winter Haven FL - Melbourne/Brevard County FL - Melbourne/Palm Bay/Titusville FL - Miami/Dade FL - Naples/Ft. Myers FL - Orlando FL - Palm Beach FL - Punta Gorda FL - Sarasota/Manatee Counties FL - St. Lucie County FL - St. Lucie/Martin Counties FL - Tallahassee FL - Tampa, Greater Area FL - Tampa/St. Petersburg FL - Winter Haven GA - Athens GA - Atlanta GA - Dalton/Whitfield County GA - Hinesville/Fort Stewart GA - Macon/Bibb County GA - Savannah HI - Honolulu ID - Boise ID - Eastern IL - Bloomington/Normal/McLean IL - Central IL - Champaign/Urbana IL - Chicago, Southwest IL - Chicagoland IL - Springfield IL - Tazewell County IN - Fort Wayne IN - Indianapolis MSA IN - Muncie KS - Garden City KS-MO - Kansas City Metro KY - Lexington KY - Louisville Metro KY - Southern LA - Acadiana LA - New Orleans ME - Midcoast MD - Eastern Shore MI - East Lansing MSA MI - Western MN - Central MN - Mankato MN - Minneapolis/St. Paul Metro

4 4 5 5 6 6 7 7 8 8 9 9 10 10 11 11 12 12 13 13 14 14 15 15 16 16 17 17 18 18 19 19 20 20 21 21 22 22 23 23 24 24 25 25 26 26 27 27 28 28 29 29 30 30 31 31 32 32 33 33 34 34 35 35 36 36 37 37 38 38 39 39 40 40 41 41 42 42 43 43

MS - Gulfport/Biloxi MO - Springfield MO-KS - St. Joseph MT - Billings NE - Lincoln NV - Reno/Sparks MSA NJ - Central & Northern NJ - Northern NJ - Ocean County NM - Albuquerque NY - Albany NY - Long Island NY - New York City NY - Rochester NC - Charlotte NC - Henderson ND - Fargo/Moorhead OH - Cincinnati OH - Dayton OK - Oklahoma City Metro OR - Portland OR - Salem OR - Southern PA - Pittsburgh PA - Southeastern SC - Charleston SC - Columbia SC - Greenville SC - Spartanburg TN - Chattanooga Metro TN - East TN - Nashville TX - Amarillo TX - Austin TX - Bryan/College Station TX - El Paso TX - Houston TX - Lubbock TX - Rio Grande Valley TX - South/Central TX - Southeast TX - Victoria TX - Waco/McLennan County UT - Salt Lake Market VA - Fredericksburg Region VA - Lynchburg VA - Williamsburg/Hampton Roads WA - King County WA - Southwest WA - Tacoma WI - Janesville/Beloit WI - Madison, Greater WY - Cheyenne Metro

44 44 45 45 46 46 47 47 48 48 49 49 50 50 51 51 52 52 53 53 54 54 55 55 56 56 57 57 58 58 59 59 60 60 61 61 62 62 63 63 64 64 65 65 66 66 67 67 68 68 69 69 70

INTERNATIONAL MARKETS Bermuda Brazil - S達o Paulo City Canada - Aurora, Ontario Canada - Barrie, Ontario Canada - Calgary, Alberta Canada - Courtenay/Vancouver Island, BC Canada - Innisfil, Ontario Canada - Nanaimo/Vancouver Island, BC Canada - Newmarket, Ontario Canada - Orillia, Ontario Canada - Ottawa, Ontario Canada - Richmond Hill, Ontario Canada - Trail, British Columbia Canada - Vaughan, Ontario Canada - Waterloo Region, Ontario Greece India - Mumbai Ireland - Dublin Italy Mexico - Mexico City Panama Puerto Rico Spain - Barcelona/Catalu単a Region Spain United Arab Emirates - Dubai

71 71 72 72 73 73 74 74 75 75 76 76 77 77 78 78 79 79 80 80 81 81 82 82 83

US TRENDS* The Coldwell Banker CommercialÂŽ (CBC) Blue Book offers a unique market perspective with data generated by true commercial real estate market experts â&#x20AC;&#x201C; the professionals of the Coldwell Banker Commercial companies within the local markets. In total, over 130 US markets were analyzed and here are the national trends.

OFFICE

retail

Vacancy

17.1%

Vacancy

10.7%

Absorption

17,383,300

Absorption

9,526,000

Rental Rates

$28.47

Rental Rates

$19.08

Industrial

Multi-Family

Vacancy

10.0%

Vacancy

4.5%

Absorption

96,277,000

Absorption

140,124

Rental Rates

$4.61

Rental Rates

$1,097

Source: Reis

OFFICE

p q n

retail

Vacancy

Absorption

Rental Rates

18 Markets

79 Markets

44 Markets

76 Markets

20 Markets

31 Markets

38 Markets

31 Markets

56 Markets

p q n

Industrial

p q n

Vacancy

Absorption

Rental Rates

24 Markets

89 Markets

42 Markets

81 Markets

16 Markets

32 Markets

27 Markets

25 Markets

56 Markets

Multi-Family

Vacancy

Absorption

Rental Rates

20 Markets

80 Markets

42 Markets

74 Markets

19 Markets

23 Markets

30 Markets

26 Markets

59 Markets

*Based off 133 US Markets (Information was N/A in certain sectors)

p q n

Vacancy

Absorption

Rental Rates

6 Markets

90 Markets

88 Markets

98 Markets

9 Markets

3 Markets

14 Markets

18 Markets

26 Markets

AL - Birmingham

demographics

market highlights

BirminghamHoover, AL

CBSA

Square Miles

5,298

Population

1,135,190

Households

$55,642

Employees (Total)

485,749

demographics

• The Birmingham metro has two

CBSA

notable Mixed-Use developments on the market now. The first, Lane Parke, is a Mixed-Use redevelopment planned for the current site of Mountain Brook Shopping Center and Park Lane Apartments. The development will include Retail, Office, and Residential. renewals in Q4: Sumitomo Electric Wiring Systems Inc. renewed their lease on 140,400 SF at Moody Commerce Park. Decoma Modular Systems renewed their lease on 120,120 SF at Jefferson Metropolitan Industrial Park.

Unemployment

largest newsmaker is the amount of building sales occurring in Q4. An estimated 850,000 total SF of Industrial buildings sold in Q4 of 2012. The top sale was Kamtek’s purchase of a 292,506 SF building in the Eastern submarket of Birmingham.

5.80%

Population

143,295

• Houston County unemployment rate

Households

57,785

• Completed commercial construction

has dropped from 8.3 percent to 6.7 percent.

in the area, such as Cheddar’s Casual Café, Buffalo Wild Wings and Academy Sports, will bring more job opportunities.

$43,656

Employees (Total)

58,833

Unemployment

6.40%

• With the healthcare industry

continuing to grow, Flowers Hospital celebrated the opening of their new Wound Care Center, and Southeast Medical Center completed their Heart and Vascular Center expansion which was an investment of $31 million. announced a mega site location.

• Regional airport offers hangars for

contact

wide body aircraft. Coldwell Banker Commercial Alfred Saliba Realty 410 N. Shady Lane Dothan, AL 36303 (334) 793-6600 www.alfredsalibacommercial.com

market were Restaurant Depot Coldwell Banker Commercial leased 50,291 SF in Wildwood North; Nordstrom Rack (Alabama’s first) Moore Company Realty 2 Office Park Circle Suite 110 leased 35,000 SF in River Ridge; Birmingham, AL 35223 and to the delight of all families in (205) 876-2717 the 280/459 trade area, Chuck E. www.moorecompanyrealty.com Cheese leased 12,889 SF in Riverhills Shopping Center.

OFFICE

Medicine is one of the 34 osteopathic colleges in the nation and the first in Alabama. The Medical College is continuing to build with 150 students to begin enrollment in August 2013.

• Southeast AL & Northwest FL

• Top lease transactions in the Retail

contact

• The Alabama College of Osteopathic

1,718

Household Income Median

• Birmingham’s Industrial market’s

market highlights

Dothan, AL

Square Miles

• The Industrial market hit a trifecta of

451,751

Household Income Median

AL - Dothan/Houston County

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

AL - Montgomery

demographics

market highlights

Montgomery, AL

CBSA

Square Miles

CBSA

do business: Expansion of Mercedes in Vance; Expansion of Hyundai in Montgomery; Expansion of Honda in Lincoln; Airbus to open its North American plant in Mobile.

147,017

378,904

• Vacancy and rental rates are

forecasted to remain stable in 2013.

Households

137,722

• The Class A Office vacancy is stable

at 5.2 percent.

in downtown historic district.

$52,679

• Budget homebuilders in the finished

Household Income Median

$72,444

• Companies like Auto Zone and Oil

Employees (Total)

162,368

• Verizon, Texas Roadhouse and

and Vinegar entered the market in late 2012.

price range of $80/SF find traction.

Employees (Total)

144,160

• With the expansion of Hyundai and

its ancillary jobs created, there is optimism in the market.

Unemployment

6.60%

will open a 100,000 SF store in Anchorage in the Spring of 2013. Anchorage with vacancies dropping from 5 to 4.71 percent.

• Restaurant and pub nears completion Household Income Median

• Bass Pro Shops announced it

• Retail continues to be strong in

26,379

Population

Retail is succeeding in their desired demographics. Call volume has increased for all product types.

market highlights

Anchorage, AK

Square Miles

• Office vacancy is stabilizing. Targeted

367,157

Households

demographics

• Alabama heats up as the place to

2,725

Population

AK - Anchorage

Massage Envy Spa will open in the market in 2013.

Unemployment

• Montgomery can become the natural

5.80%

cargo break point for intermodal product arriving in the Port of Mobile.

contact

Coldwell Banker Commercial Moore Company Realty 121 Coosa St., Suite 250 Montgomery, AL 36104 (334) 262-1958 www.moorecompanyrealty.com

Coldwell Banker Commercial NRT - Anchorage 2600 Cordova Street, Ste 205 Anchorage, AK 99503 (907) 222-1033 www.coldwellutah.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

AZ - Sedona/Verde Valley

demographics CBSA

AR - Little Rock

market highlights

Flagstaff, AZ

demographics

• Commercial vacancies are stable and

trending downward.

Little RockNorth Little Rock-Conway, AR

CBSA

• State has finished upgrading lighting

Square Miles

• Commercial property sales have

Households

new Little Rock Technology Park.

4,090

Population

690,456

Households

276,042

Household Income Median

$56,190

Employees (Total)

290,765

is creating surplus Retail space scattered throughout state.

• Commercial property sales volume

46,597

has increased by 236 percent.

• Hotel construction continues to be

strong in downtown’s River Market District.

• The 8th annual Sedona Marathon

Household Income Median

drew the largest number of participants ever.

$52,993

Employees (Total)

48,137

Unemployment

8.40%

• Bass Pro Shops was quickly under

construction after announcing a 30-acre acquisition at the I-430/I-30 interchange.

• Lonely Planet named Sedona and

Verde Valley among the Top 10 U.S. Travel Destinations for 2013.

• New mid-rise Apartment

Unemployment

construction flourishes in Park Avenue Mixed-Use development in Midtown.

6.30%

contact

Coldwell Banker Commercial First Affiliate 195 West SR 89A Sedona, AZ 86336 (928) 340-5000 www.cbsedonacommercial.com

Coldwell Banker Commercial Hathaway Group 2100 Riverdale Rd. Suite 100 P.O Box 3730 LIttle Rock, AR 72202 (501) 663-5400 www.hathawaygroup.com

OFFICE

from NY City to Conway in Central Arkansas.

• Walgreen’s purchase of USA Drug

increased 60 percent in number of transactions.

130,596

• Inuvo announces HQ relocation

• City of Little Rock seeks location for

in Sedona’s business district.

18,617

Population

market highlights

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

CA - Bakersfield

demographics CBSA

CA - Chico

market highlights

Bakersfield,CA

demographics

• There has been a boom within the oil

CBSA

field industry.

• The unemployment rate is down and

Square Miles

home sales are the rise.

8,141

market highlights • New 60,000 SF North Butte County

Chico, CA

Square Miles

Courthouse Complex scheduled for construction in Chico.

• New 37,000 SF Butte County Hall of

1,639

Records scheduled for construction in Oroville.

• Builders are looking to boom out and Population

are seeking Land to develop.

813,502

Population

221,277

• A 65,000 SF Weiss McNair farm

• There is a shortage in housing Households

in Kern County CA, but new construction is on the rise.

267,652

Households

Household Income Median

housing market.

$46,302

88,796

• Willows I-5 Commercial and

• The economy recovery is led by the

Household Income Median

equipment manufacturing facility is under construction in Chico. Industrial Center entitled and ready to serve Pacific West Coast market along the Interstate 5 transportation corridor.

$43,239

• There is affordable living in the area Employees (Total)

193,908

Unemployment

13.50%

as well as a rise in employment.

Employees (Total)

60,484

Unemployment

11.60%

• The enrollment and number of CA

State University, Chico students is expanding.

• There are new major retailers in

the area including: Dick’s Sporting Goods, Marshalls, Petco, Guitar Center, Dollar General, Auto Zone, Krispy Kreme and Walmart Superstore.

contact

Coldwell Banker Commercial Preferred, Realtors 1820 Westwind Dr. Bakersfield, CA 93301 (661) 327-2121 www.cbcworldwide.com

Coldwell Banker Commercial DuFour Realty 1350 E. Lassen Ave. Suite 1 Chico, CA 95973 (530) 895-1545 www.cbcworldwide.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

CA - Inland Empire

demographics

market highlights

Riverside-San BernardinoOntario, CA

CBSA

CA - Inland Empire North/Victor Valley

demographics

• Yucaipa commercial real estate

Riverside-San BernardinoOntario, CA

CBSA

listings are rising.

market highlights

• The Pass Area is primed for the next Square Miles

commercial boom.

27,260

Square Miles

commercial real estate locations are HUBZone certified.

4,171,856

Households

• JCPenny is expanding their location

4,171,856

• Newell Rubbermaid added nearly

by 37,000 SF in 2013, and Macy’s is scheduled to open Q1 of 2013.

• Many citizens from the Inland Empire • The Pass Area includes two major

• Panera Bread, Pancho Villa’s, Freddy’s

Steak Burger were among many of the new restaurants.

• Land sales volume is up 8.5 percent

1,156,307

Unemployment

10.90%

net absorption in 2012.

$52,845

Employees (Total)

counties; San Bernardino and Riverside County.

• Walmart represented 261,000 SF of

1,350,253

Household Income Median

are migrating to the Pass Area.

1,156,307

Unemployment

Households

Area (Yucaipa, Calimesa, Beaumont, Banning) is expanding.

$52,845

Employees (Total)

180,000 SF at their SCLA location.

• Residential real estate in the Pass

1,350,253

Household Income Median

Population

in 2012 over 2011. Housing market experienced an increase of 14.4 percent in home values during 2012.

10.90%

contact

Coldwell Banker Commercial Kivett Teeter 32829 Yucaipa Blvd. Yucaipa, CA 92399 (909) 797-9134 www.cacommercialrealestate.com

Coldwell Banker Commercial Real Estate Solutions 15500 W Sand St. 2nd Floor Victorville, CA 92392 (760) 684-8000 www.cbcdesert.com

OFFICE

demand along with the upward pressure on pricing.

27,260

• Many Beaumont and Banning Population

• Multi-Family units are in high

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

CA - Long Beach/South Bay

demographics

market highlights

Long Beach, CA

CBSA

CA - Los Angeles/Los Angeles, West

demographics

• Industrial near the ports remains

Los AngelesLong BeachSanta Ana, CA

CBSA

strong.

market highlights

• Market forecasts are cautiously

Square Miles

Office/Retail vacancies.

4,850

• New zoning regulations will allow for Population

• Office/Retail rents are rising.

new developments.

12,935,173

Population

12,935,173

• Technology and Internet businesses

• Most market changes are minor but Households

Household Income Median

are absorbing space.

momentum is picking up.

4,288,080

Households

Unemployment

10.20%

Mixed Use development activity.

• Owner/user market is very hot due to

$60,485

Employees (Total)

5,313,010

• There is plenty of Apartment and

4,288,080

Household Income Median

$60,485

Employees (Total)

availability of SBA loans.

5,313,010

Unemployment

10.20%

contact

Coldwell Banker Commercial Blair Westmac 333 W. Broadway Suite 312 Long Beach, CA 90802 (562) 495-6070 www.cbcblair.com

Coldwell Banker Commercial WESTMAC 1515 S. Sepulveda Blvd. Los Angeles, CA 90025 (310) 478-7700 www.westmac.com

OFFICE

opportunities.

• This area is experiencing shrinking

optimistic.

4,850

• Very little available investment

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

CA - Los Angeles, Westside

demographics

market highlights

Los AngelesLong BeachSanta Ana, CA

CBSA

Square Miles

4,850

Population

CA - Merced MSA

12,935,173

demographics

• Multi-Family demand is driving most

CBSA

of the market activity but SingleTenant NNN investments, Medical Office and Industrial are also strong sectors (Strength in the Industrial sector is due to scarcity of product and ability to convert to Creative Office uses).

market highlights • Merced is the county seat of Merced

Merced, CA

County, California.

• Merced is home to University of

Square Miles

California, Merced.

1,929

• Merced’s population has grown Population

246,043

Households

72,827

faster than the state average since 1980. Over the past nine years, the annualized growth rate is about 3.4%. This rapid expansion of population has stimulated significant Retail growth since 1992. Several major Retail chain stores have entered Merced, adding over 750,000 SF of new Retail space.

• Demand greatly exceeds supply for Households

the strongest sectors.

4,288,080

• Multi-Family cap rates are 4 Household Income Median

percent-5.5 percent in A/B areas and 5.5 percent-8 percent in C/D areas. Lenders have developed new programs to compete with Fannie & Freddie and to capture a share of the Multi-Family lending.

$60,485

Employees (Total)

5,313,010

Household Income Median Employees (Total)

• Development Land for Condos, Unemployment

44,894

Unemployment

Apartments and Mixed-Use is once again in demand but prices are still below pre-recession levels.

10.20%

$43,534

17.20%

• Strongest sub-markets are: the Santa

Monica and Venice creative corridors, Beverly Hills, Brentwood, West Hollywood and Hollywood.

contact

Coldwell Banker Commercial NRT - Los Angeles 11999 San Vicente Blvd. Los Angeles, CA 90049 (310) 820-6651 www.cbcworldwide.com

Coldwell Banker Commercial Gonella Realty 3170 Collins Dr. Suite A Merced, CA 95348 (209) 725-7253 www.mercedcommercialrealestate.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

CA - Modesto

demographics CBSA

market highlights

Modesto, CA

Square Miles

1,494

Population

512,221

Households

167,008

CA - Napa Valley/Napa County

demographics

• Stanislaus County is located in the

CBSA

Central Valley. Many people in the surrounding areas shop in its county seat of Modesto. employing approximately 18,000 people or 11.3 percent of the total 160,000 people that are employed. The unemployment rate varies due to seasonal positions in the AG industry.

• The Shops at Napa Center, an open

Napa, CA

Square Miles

• The major industry is AG-related,

market highlights air downtown Retail hub, is retenanting and positioning itself to add a 180 room hotel.

754

Population

135,273

Households

52,057

• Over 700,000 SF of temperature-

controlled high cube Warehouse space was leased in Q4. Future demand may require build-to-suit.

• There was high demand from

investors seeking Multi-Family properties of 5 or more units.

• Well located shopping areas have Household Income Median

$49,395

Employees (Total)

140,743

Unemployment

15.00%

been attracting new tenants with some major remodeling. Vacant spaces, due to the lack of new construction, have been absorbed as needed. Kaiser Permanente built a major hospital complex with Memorial Hospital building, a major expansion.

Household Income Median

• There have been major layoffs in

the government sector based on tax assessments being lowered due to the downturn in real estate values. Leveling out has occurred, and all are hoping real estate prices will start to rise in 2012. This will only come if unemployment in the area starts to decline.

contact

Employees (Total)

60,343

Unemployment

7.90%

Yountville, St. Helena and Calistoga, experienced a substantially tight supply of commercial properties available for sale and for lease.

contact

Coldwell Banker Commercial • The Office and Retail markets are Vinson Chase, Realtor improving in good centers and 220- C Standiford Ave. Modesto, CA 95350 locations. (209) 577-2121 www.cbcworldwide.com

OFFICE

• The Up Valley market, including

$72,042

Coldwell Banker Commercial Brokers of the Valley 1775 Lincoln Ave. Napa, CA 94558 (707) 224-8454 www.napacommercialproperties.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

CA - Newport Beach

demographics

market highlights

Los AngelesLong BeachSanta Ana, CA

CBSA

CA - Oakland/East Bay

demographics

• Vacancy rates within Office

San FranciscoOaklandFremont, CA

CBSA

properties continues to remain high.

market highlights

• The Retail vacancy rate is moving Square Miles

down slowly.

4,850

Square Miles

increasing.

12,935,173

Population

4,347,767

Households

1,661,661

& Electric in San Ramon with their Office lease expansion of 145,000 SF.

• Steady economic growth is driving

2,473

the East Bay Market improvements.

• Commercial property sales are Population

• A major transaction was Pacific Gas

• Low vacancy rates and rising

rents are spurring Multi-Family construction pipeline growth.

• The Residential market is low on Households

inventory.

4,288,080

• The overpriced properties are not

moving.

Household Income Median

$60,485

Household Income Median

• Waterfront properties have held their

value in the area.

Employees (Total)

residential buyers priced out of San Francisco market.

$80,439

• There is an amazing amount of cash

entering the market.

Employees (Total)

5,313,010

Unemployment

• East Bay is a popular destination for

Unemployment

10.20%

• The East Bay’s unique culture is more

1,916,201

laid back and uncomplicated than that of its western neighbors.

7.30%

contact

Coldwell Banker Commercial NRT - Balboa Island 201 Marine Ave. Balboa Island, CA 92662 (949) 673-8700 www.cbcworldwide.com

Coldwell Banker Commercial NRT - Pleasanton 5980 Stoneridge Dr. Suite 122 Pleasanton, CA 94588 (925) 847-2266 www.cbcworldwide.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

CA - Orange County

demographics

market highlights

Los AngelesLong BeachSanta Ana, CA

CBSA

CA - Riverside/South West

demographics

• Office vacancies are finally down to

Riverside-San BernardinoOntario, CA

CBSA

13.1 percent.

market highlights

• The commercial rent rates have Square Miles

flattened out except for Multi-Family.

4,850

Square Miles

12,935,173

Households

4,288,080

the rents slowly rising due to lack of product.

• The minimal Retail development is

keeping vacancy at under 6 percent.

• Stabilization can be seen ahead with

Household Income Median

tenants renewing leases.

$60,485

space commitments.

Households

1,350,253

leaving less availablity of inventory. under construction with completion expected by end of Q1. This will draw medical professionals into the area.

• The unemployment rate has dropped

to 11.1 percent, down from 12.4 percent from the previous year.

1,156,307

Unemployment

6.80%

• The new Temecula Valley Hospital is

$52,845

Employees (Total)

5,313,010

Unemployment

4,171,856

Household Income Median

• Most major law firms trimmed their

Employees (Total)

Population

strengthen and show increased activity in all sectors.

• Industrial vacancy rates are falling,

27,260

• Industrial vacancy is under 4% with Population

• The overall market continues to

10.90%

contact

Coldwell Banker Commercial NRT - Newport Beach 4 San Joaquin Plz. Suite 260 Newport Beach, CA 92660 (949) 644-1600 www.cbcworldwide.com

Coldwell Banker Commercial Sudweeks Group 27708 Jefferson Ave. Suite 201 Temecula, CA 92590 (951) 200-7683 www.cbcsocalgroup.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

CA - San Gabriel/San Fernando Valleys

demographics

market highlights

Los AngelesLong BeachSanta Ana, CA

CBSA

CA - San Mateo County/Peninsula

demographics

• This area has low vacancy.

market highlights

San DiegoCarlsbad-San Marcos, CA

CBSA

• There is an Increase in sale prices and

• Two Industrial construction projects

have been approved and are rumored to commence early to mid-2013. The two projects: 213 East Grand and 330 San Bruno Ave. They are both R&D properties in South San Francisco with an estimated total of 550,000 SF.

lease rates in the area.

Square Miles

4,850

Population

Square Miles

• Speculative development is starting. • Net absorption is still low.

12,935,173

4,200

Population

3,071,264

• There is panic buying in multi-family

• The largest investment sale was

properties.

Households

4,288,080

Households

• The market is experiencing low

a purchase of ten buildings on Embarcadero Rd. in Palo Alto by KBS Realty totaling 225,000 SF.

1,129,261

interest rates and too many buyers.

Household Income Median

$60,485

Employees (Total)

5,313,010

Unemployment

completed their new 109 unit complex at 636 El Camino Real in South San Francisco.

1,227,936

• The asking rates in the Industrial

Unemployment

10.20%

• The Mid Peninsula Coalition

$66,264

market remain relatively flat over the Q4 in 2012.

8.10%

• San Mateo’s job growth continues

as the unemployment rate falls 8.5 percent from the recession in 2010.

• Sales activity gains significant

momentum.

contact

Coldwell Banker Commercial North County 701 N. Brand Blvd., Ste 180 Glendale, CA 91203 818-334-1900 www.cbcnco.com

Coldwell Banker Commercial Westbay Real Estate Group 1575 Bayshore Hwy. Suite 100 Burlingame, CA 94010 (650) 344-4300 www.cbcburlingame.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

CO - Western

demographics

market highlights

Grand Junction, CO

CBSA

Square Miles

CT - Fairfield County

3,328

demographics

• There are good signs of a market

BridgeportStamfordNorwalk, CT

CBSA

recovery. In the Industrial market, General Electric signed a 10 year lease for a 70,000 SF facility that had been on the market for several years.

market highlights

Square Miles

626

• Commercial foreclosure sales were a Population

factor in the market, but values were mostly at market prices.

148,298

Households

University continues to grow with the addition of two new campus dormitories and another new dormitory slated for the 2013-2014 school year.

$47,409

Employees (Total)

54,564

Unemployment

8.60%

• There was low inventory of

residential MLS listings, but there are some new subdivisions under construction.

Households

336,733

Household Income Median

$91,039

Employees (Total)

419,437

Unemployment

• There is Retail growth in the area.

TJ Maxx and Tractor Supply both opened stores in the fall. Sprouts grocery was constructed and opened in January 2013, and 2 new national truck stops are slated for the I-70 interchange. Both Land sales for the truck stops closed in December contact and were about 10 acres each, at Coldwell Banker Commercial approximately $6 SF. Prime Properties, LLC 550 Patterson Rd. Suite B Grand Junction, CO 81506 (970) 243-7375 www.grandjunctioncommercial.com

OFFICE

904,874

ended the Q4 of 2012 with a vacancy rate of 14.7 percent, up from 14.0 percent with net absorption totaling negative 349,245 SF, compared with 310,857 SF in the Q2. Vacant sublease space increased to 1,073,617 SF up from 850,551 SF at Q2.

• Fairfield County’s available, vacant-

• Over the past 2 years, Colorado Mesa

60,317

Household Income Median

Population

• Fairfield County’s Office market

sublease space increased across the board from Q2 in 2012. Office went from 851,000 SF to 1,073,617 SF; Industrial from 81,000 SF to 118,148 SF and Retail from 21,000 SF to 30,407 SF.

• Among the significant movements

in 2012 were: UBS vacated 257,474 SF of Office space; Cervalis leased 167,691 SF of Office space; NBC Sports Group moved into a 274,956 SF of Industrial space; Cytec Industries Inc. vacated 144,000 SF of Industrial space; and Sears vacated 178,516 SF of Retail space.

7.20%

• Notable construction projects of

2012 are: 112 Quarry Rd, a 74,726 SF facility that is currently 32% occupied, and a 93,046 SF project Coldwell Banker Commercial is under way at 50 Corporate Dr. an Industrial building already 65% preNRT - Wilton 77 Old Ridgefield Rd. leased. Wilton, CT 06897 (203) 831-4187 • The average quoted asking rate is www.cbcworldwide.com $31.84 SF for Office and Industrial is $7.50 SF.

contact

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

DE - Sussex County

demographics CBSA

market highlights

Seaford, DE

Square Miles

938

Population

demographics

• Several new national tenants

Square Miles

78,981

5,126

Population

improve due to the rise in tourism, more summer rental activity and rapidly increasing retirement influx.

market highlights

Boca Raton, FL

CBSA

have opened on Coastal Highway, including: TD Bank, Buffalo Wild Wings, Panera Bread and Chipotle’s. Shore Bank and Keller-Williams have also opened Offices.

• Commercial activity has continued to

194,215

Households

FL - Boca Raton/Palm Beach County

5,566,404

Households

still slow, the level of residential construction increased dramatically over the past year.

$52,386

comprised of lateral market moves, existing tenants are expanding and entering into long-term lease agreements instead of downsizing or a short-term commit, as this market has seen over the past 5 years.

2,128,471

Employees (Total)

68,986

Unemployment

7.10%

Household Income Median

$57,415

• Leasing activity should see modest

• Closed residential resale volume

Employees (Total)

increased 14.5 percent in 2012 over 2011.

• Traffic volume on Route 1 and

growth as economic signals point to a recovering residential sector and could translate into increased space needs. In spite of uptick in demand, expect flat rent performance as the vacancy rate remains relatively high. Tenants will retain leverage at negotiation time.

2,069,525

Unemployment

Coastal Highway remains at a very high level making it one of the best Retail areas in the mid-Atlantic region.

8.00%

• Palm Beach County gained nearly

• Sussex County’s great accessibility

6,000 jobs during 2012. With a goal to influence economic growth in the market, the Business Development contact Board of Palm Beach County is Coldwell Banker Commercial in partnership with the Board of County Commissioners and the Palm NRT - Boca Raton 1800 NW Corporate Blvd. Beach County Office of Economic Suite 100 Sustainability for a collaborative Boca Raton, FL 33431 effort. (561) 479-5963 www.cbcworldwide.com

to bays and the ocean coupled with low property taxes and no sales tax contact continues to make it one of the top Coldwell Banker Commercial retiree destinations on the east coast. Resort Realty 20184 Coastal Hwy. Rehoboth Beach, DE 19971 (302) 227-5000 www.cbankercommercial.com

OFFICE

market enjoyed its healthiest performance during the Q4 of 2012. Although gains were modest, demand outpaced supply by the largest margin since the onset of the recession.

• Although much of the activity is still

• While commercial construction is Household Income Median

• The Palm Beach County Office

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

N/A

Rental Rates

FL - Daytona Beach/Ormond Beach

demographics

market highlights

Square Miles

demographics

• Daytona Beach was ranked 6th

DeltonaDaytonaOrmond Beach, FL

CBSA

FL - Deltona

in Trip Advisor’s top 10 listing of Travelers’ Choice Awards for US beach destinations and ranked 17th in the Top 25 Beach Destinations in the World.

1,103

market highlights • New VA Hospital to open this fall;

DeltonaDaytonaOrmond Beach, FL

CBSA

creating over 1,000 jobs.

• Unemployment is down for a second

year in a row.

Square Miles

1,103

• Central FL is getting a boost from the

opening of its first rail named Sun Rail.

• Bed tax collections from the Population

resort area continue to edge up, and boardings at Daytona Beach International Airport continue to climb.

495,625

Households

214,567

Population

495,625

• New housing permits are on the rise. Households

214,567

• Fl state incentives of no state tax and

sunny weather are attracting more companies.

• Planning Board recently voted 11-0 Household Income Median

$47,500

Employees (Total)

146,482

Unemployment

on a proposal to rezone a 4.5 acre ocean site for a 29 story condo with 105 rooms and a 26 story hotel with 500 rooms.

• A two tower, 4-star condo/hotel

complex comprised of 1 million SF of space with a 40,000 SF meeting space is awaiting final approval from city commissioners. Construction of the first tower on 10 acres ocean front site should begin late summer.

8.10%

Household Income Median

$47,500

Employees (Total)

146,482

Unemployment

8.10%

• Embry-Riddle University, Daytona

State University, Bethune Cookman, and University of Central FL continue to grow and receive national and Coldwell Banker Commercial federal grants in their fields of expertise. Benchmark 570 Memorial Circle Suite 300 Ormond Beach, FL 32174 • A large modular home community (386) 672-8530 sold for $26.4 million. The demand www.benchmarkdaytona.com for assisted living facilities and MultiFamily developments continue to rise.

contact

OFFICE

contact Coldwell Banker Commercial AI Group 1019 Town Center Dr. Suite 200 Orange City, FL 32763 (386) 775-8633 www.cbcaigroup.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

FL - Florida Keys/Key West

demographics CBSA

market highlights

Key West, FL

Square Miles

demographics

• The sales of distressed properties are

brisk, and new distressed listings are declining.

Population

29,685

Unemployment

4.30%

market.

5,566,404

• The Office market has a lot of tenants Households

shifting to other spaces.

2,128,471

• The Retail market is very active with

• The Barriers to entry based on

$71,455

place in the area.

5,126

• Multi-Family remains the strongest

interest from national tenants due to prices being down and other existing opportunities.

32,553

Employees (Total)

interest rates and a limited supply of product.

• New construction is finally taking Square Miles

• This market is experiencing renewed

Household Income Median

• Cap rates are shrinking due to low

Miami-Fort LauderdalePompano Beach, FL

CBSA

development is being driven by the high average ADR’s and Occupancy which lead the State of FL.

73,047

Households

market highlights

• Hotel development and re-

997

Population

FL - Fort Lauderdale/Broward County

Household Income Median

development restrictions continue to be a challenge.

new construction up and down major corridors.

$57,415

• The area continues to grow with the

• Please visit our website at www.

Employees (Total)

RealEstateFlordiaKeys.com to view our most recent Newsletter which discusses the market in detail.

Unemployment

• Monroe County continues to enjoy

expansion of the Fort Lauderdale Airport and the rise of population.

2,069,525

8.10%

one of the lowest unemployment rates in FL.

contact

Coldwell Banker Commercial Schmitt Real Estate Company 11100 Overseas Hwy. Marathon, FL 33050 (305) 289-6482 www.cbcworldwide.com

Coldwell Banker Commercial NRT - Boca Raton 1800 NW Corporate Blvd. Suite 100 Boca Raton, FL 33431 (561) 367-4111 www.cbcworldwide.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

FL - Gainesville

demographics CBSA

FL - Jacksonville

market highlights

Gainesville, FL

demographics

• Average closed Office lease rate was • Average asking Office lease rate is

Square Miles

$13.39 SF gross.

1,223

Jacksonville, FL

CBSA

$12.89 SF gross.

market highlights

Square Miles

3,221

• The average closed Retail lease rate Population

was $14.46 SF.

261,674

Population

is $15.39 SF.

113,545

Households

518,910

Samsonite expansion in Jacksonville. Samsonite had occupied 200,000 SF in One Imeson and will move into a 240,000 SF of distribution space at 10089 North Main St. This space is in addition to an 800,000 SF facility located on Yeager Rd. in North Jacksonville.

Household Income Median

$60,216

Employees (Total)

551,254

• The year over year Office area Household Income Median

available went down 5.0 percent and Retail area increased 15.0 percent.

$45,060

• Activity is very high in both the Employees (Total)

87,322

Unemployment

6.20%

Office and Retail markets with vacancies expected to decrease for both in 2013.

Unemployment

leased 360,000 SF of Industrial space in Imeson Center in North Jacksonville. The group intends to move into the 1.5 million SF complex this summer.

• Body Central deal paved the way for

1,334,380

• The average asking Retail lease rate Households

• Ladies apparel company Body Central

• Catamount Constructors Inc. of

Atlanta pulled building permits last week for the $26.8 million Deerwood Lake Lofts Apartment complex on Jacksonville’s Southside.

7.40%

• Capital Advisors has arranged $16.2

million in refinancing for Oasis at Mandarin Apartments, a 256-unit Multi-Family community at 3355 Claire Lane in Jacksonville.

• A year and a month into his tenure as

contact

Coldwell Banker Commercial M.M. Parrish Realtors 7515 W. University Ave. Suite 201 Gainesville, FL 32607 (352) 264-3800 www.mmparrish.com/commercial

Coldwell Banker Commercial Benchmark 4348 Southpoint Blvd. Suite 310 Jacksonville, FL 32216 (904) 281-1990 www.cbcbenchmark.com

OFFICE

retail

OFFICE

Jaguars owner, Shad Khan introduced a new logo for the franchise, a critical component of the first major rebranding for the organization since the team began play during the 1995 NFL season.

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

FL - Lakeland/Winter Haven

demographics

market highlights

LakelandWinter Haven, FL

CBSA

FL - Melbourne/Brevard County

demographics

• Sykes leased a 96,000 SF location in

Palm BayMelbourneTitusville, FL

CBSA

North Lakeland for a call center.

market highlights

• O’Reilly Automotive announces a Square Miles

Population

606,019

Households

Square Miles

Winter Haven and an additional 900 acres for a 8 million SF intermodal center.

• Florida Polytechnic University breaks

Household Income Median

$40,730

Employees (Total)

245,900

Unemployment

ground on main building by world famous architect Santiago Calatrava.

• Downtown Winter Haven is

emerging as the home of data center companies.

• Lakeland Regional Medical Center

8.60%

536,805

Households

225,977

Household Income Median

$56,299

Employees (Total)

181,926

Unemployment

aligned with USF medical school and will become a teaching hospital.

companies locating to Melbourne area & Brevard County are reducing vacancies.

1,018

Population

• CSX acquired 300 acres south of

228,998

• Port Canaveral has a new cruise

terminal; Harris Corp campus is expanding by 450,000 SF; and AFTA’s nuclear detection complex at Patrick Air Force Base is 276,000 SF.

• Residential sales are up and

inventory is down.

• The privatization of space has

attracted many space companies and created thousands of jobs.

• Melbourne area is becoming an

8.30%

aviation industry center in FL.

contact

Coldwell Banker Commercial Saunders Ralston Dantzler Realty 114 N Tennessee Ave. 3rd Floor Lakeland, FL 33801 (863) 877-2828 www.srdcommercial.com

Coldwell Banker Commercial Ed Schlitt, L.C. 232 Fifth Ave. Indialantic, FL 32903 (321) 723-9500 www.cbc.flcoldwellbanker.com

OFFICE

Rd. & I-95.

• Numerous high-tech & aviation

350,000 SF distribution regional Office at 3300 County Line Rd. in Lakeland.

2,010

• Bass Pro Outlet locating to Palm Bay

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

FL - Melbourne/Palm Bay/Titusville

demographics

market highlights

Palm BayMelbourneTitusville, FL

CBSA

Square Miles

1,018

Population

225,977

Household Income Median

$56,299

demographics

• “Space Coast” Brevard offers pro-

Square Miles

5,126

Population

Center project breaks ground in Palm Bay. The 6-story, 450,000 SF facility will create 100 new permanent technical and support jobs and is projected to add up to 300 construction jobs over the next 3 years.

market highlights

Miami-Dade, FL

CBSA

business incentives: low taxes, robust transportation infrastructure, and high-tech labor force, as well as, an average temperature of 73 degree and 72 miles of pristine beach.

• The $100 million Harris Technology

536,805

Households

FL - Miami/Dade

5,566,404

Households

global transportation connections available through Miami International Airport (MIA) and the Port of Miami. The Port of Miami-Dade is both the world’s leading port for cruise line passenger traffic and the top container port in the State of FL.

$57,415

• U.S. Navy breaks ground on new Employees (Total)

Strategic Weapons System Ashore (SWS Ashore) facility to create 100 jobs in 3 years with average salaries of $90,000 and an 85 percent rate of the projected workforce local to include former Shuttle workers.

181,926

Unemployment

8.30%

Employees (Total)

• Miami-Dade County is one of the

2,069,525

Unemployment

world’s leading metropolitan areas for global companies with a roster of more than 1,000 multi-national corporations that include Apple, Oracle, IBM, Clorox, Burger King and Porsche. It is home to the third largest consular corps in the United States.

9.10%

• Global Technology Company, Nuance

Communications, will expand its operations in Melbourne to create 115 new jobs by the end of 2013 and raise its total projected economic impact by 66 percent to nearly $24.4 million.

contact

• There is a high quality of life with a

wide range of housing options, yearround outdoor recreational activities, renowned cultural institutions and Coldwell Banker Commercial four major professional sports franchises. NRT - Coral Gables 1500 San Remo Suite 110 Coral Gables, FL 33146 (305) 302-6737 www.cbcworldwide.com

contact

Coldwell Banker Commercial Sun Land Realty of Florida • Professional Aircraft Accessories opened its 20,000 SF, $1.5 M 1920 Hwy A1A Indian Harbour Beach expansion facility at Space Coast FL 32937 Regional Airport adding 65 jobs to (321) 777-7743 boost PAA’s total economic impact to www.cbcsunlandrealty.com over $28 million.

OFFICE

buyers, Miami has experienced robust sales activity since 2008. Local demand is also fueled by vacation and second home buyers for baby boomers and from net migration from other states.

• Unmatched accessibility: unrivaled

2,128,471

Household Income Median

• Consistently a top market for foreign

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

FL - Naples/Ft. Myers

demographics

market highlights

Naples-Marco Island, FL

CBSA

FL - Orlando

demographics

• Arthrex is building a 600,000+ SF • Retail and Industrial are improving,

Square Miles

but Office lags.

2,025

OrlandoKissimmee, FL

CBSA

factory in Ave Maria.

market highlights

320,101

Households

132,487

Household Income Median

$76,515

Employees (Total)

construction until vacancies rates come down more.

Quarters of positive absorption, encouraging news coming from the Retail sector and the Housing market. Rents should stabilize and the interest rates are still low. This entices companies to consider buying a building rather than leasing, which has helped Industrial sales.

3,491

Population

• The residential market is rapidly

improving and prices are up, but there is still a large overhang of foreclosed properties.

• The Commercial market should

slowly improve, but is a year or two away from normal times.

115,960

• The baby boomers are coming again!

Unemployment

2,093,845

Households

799,047

Household Income Median

$53,425

Employees (Total)

956,766

• It appears that build-to-suits in the

Unemployment

7.30%

from 230,000 to 500,000 SF.

• Orlando has had four consecutive

Square Miles

• There will be very little new Population

• Amcor Rigid Plastics USA relocated

50,000-100,000 SF range will come online this year.

• Improvements in residential

construction (17 percent) from the 3Q, continued low interest rates and attractive sales prices have bolstered the residential market overall.

7.60%

• Lease rates and building sales prices

are beginning to recover; which should spur investment activity.

• The Hospitality and Retail markets

continue to drive the Orlando market. Lake Nona’s growing Medical City will likely affect the south Coldwell Banker Commercial Orlando Industrial market positively in 2013. NRT - Maitland 901 N. Lake Destiny Dr. Maitland, FL 32751 (407) 571-5294 www.cbcworldwide.com

contact

Coldwell Banker Commercial NRT - Naples 550 Fifth Ave. S. Naples, FL 34102 (239) 216-4949 www.cbcworldwide.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

FL - Palm Beach

demographics

market highlights

Square Miles

• There is a new Bass Pro Shop in the • Inventory is down and prices are

Employees (Total)

• Buyers are willing to buy at market

Population

156,239

Households

70,703

• The residential market is improving. • There is no new change in the market

at this point.

price with very little negotiation.

• There is a sub-secondary market

Household Income Median

work and play.

2,069,525

Unemployment

• The new Publix Center is located on

going up.

$57,415

area.

Peachland Blvd. in Pt Charlotte.

• The area is the best place to live,

Household Income Median

694

area.

2,128,471

• There is a large medical clinic in the • Vacancy rates remain the same.

Office and Warehouse locations.

5,566,404

Households

market highlights

Punta Gorda, FL

CBSA

• Absorption rates are up for Retail,

5,126

Population

demographics

• Digital Domain closed.

Miami-Fort LauderdalePompano Beach, FL

CBSA

FL - Punta Gorda

between Sarasota and Fort Myers, FL.

$50,696

Employees (Total)

38,556

Unemployment

8.00%

8.10%

contact

Coldwell Banker Commercial Thomas J. White Realty 1555 NW St. Lucie West Blvd. Port Saint Lucie, FL 34986 (772) 340-4001 www.tjwcommercial.com

Coldwell Banker Commercial Sunstar Realty, Inc 1980 Kings Hwy. Port Charlotte, FL 33980 (941) 255-7223 www.sunstarcommercial.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

FL - Sarasota/Manatee Counties

demographics

market highlights

demographics

• Commercial sales and leasing are up.

SarasotaBradentonVenice, FL

CBSA

FL - St. Lucie County

market highlights

Port St. Lucie, FL

CBSA

• Low Lease rates are bringing new

Tenants

Square Miles

1,313

Square Miles

• Q4 sales were fueled by the fiscal

1,128

Population

689,676

• Banks seem to be releasing more

407,361

high, but prime. Well-maintained Retail and Offices are seeing better than average occupancy and rates.

foreclosed property.

Households

311,173

Households

169,340

Household Income Median

$58,236

Household Income Median

$53,266

230,801

Employees (Total)

117,662

Digital Domain in 2012. However, Martin Memorial Hospital will open soon in Southern St. Lucie County.

• Commercial sector vacancies are still

cliff.

Population

• Port St. Lucie saw the collapse of

• A new Federal Court House was

recently completed in Downtown Fort Pierce, but there is limited construction in the Commercial sector.

• Inventory of existing homes is Employees (Total)

Unemployment

7.80%

substantially lower; median price is increasing; and new home sales are improving.

• The residential construction has

9.50%

rebounded on the Treasure Coast. The rental rates for Industrial and Retail space are expected to improve.

• St. Lucie County continues to be the

“Pro Growth” county on the Treasure Coast. It is only a two hour drive from 80 percent of the population contact of FL. The affordable home prices Coldwell Banker Commercial continue to attract new residents. Ed Schlitt, L.C. 411 N. U.S. Highway 1 Fort Pierce, FL 34950 (772) 461-3250 www.cbc.flcoldwellbanker.com

contact Coldwell Banker Commercial NRT - Sarasota 100 North Tamiami Trl. Sarasota, FL 34236 (941) 925-8586 www.cbcworldwide.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

FL - St. Lucie/Martin Counties

demographics

market highlights

Port St. Lucie, FL

CBSA

FL - Tallahassee

demographics

• Bass Pro Shops are opening a

• Martin Memorial is breaking ground

Square Miles

for new hospital in Town of Tradition.

1,128

Tallahassee, FL

CBSA

100,000 SF store in Port St Lucie.

market highlights

Square Miles

2,387

• The Residential market is improving Population

407,361

Households

169,340

$53,266

Employees (Total)

117,662

entry into the market, backfilling the vacant 70,000 SF Sportsmans Warehouse in the Fallschase commercial development.

• Office vacancy remains at 20

with low inventory and an increase in home prices.

• Bio Tech Industry is located in Port

St Lucie.

• St Lucie County is to review the

Household Income Median

• Bass Pro Shops has announced its

comprehensive port plan in Fort Pierce.

Population

361,765

Households

154,494

Household Income Median

$47,364

Employees (Total)

111,973

percent due to State of FL agencies continuing to downsize or moving into State owned buildings.

• Residential construction is improving.

Commercial construction is strong in Multi-Family student housing, but weak in other areas.

• The residential market improved in

Unemployment

9.50%

2012 with sales up 13 percent over 2011 and the average sale price up 14 percent.

• Sales are finally happening of

6.60%

properties that have been on the market for a long time. It is hopeful that with inventory declining, the market will improve.

• Tallahassee continues to lead the

State of FL with one of the lowest unemployment rates at 7 percent.

contact

Coldwell Banker Commercial NRT - Port St Lucie 1973 SW Savage Blvd. Port St. Lucie, FL 34953 (772) 370-2320 www.cbcworldwide.com

Coldwell Banker Commercial Hartung & Noblin, Inc. 3303 Thomasville Rd. Tallahassee, FL 32308 (850)386-6160 www.cbcworldwide.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

FL - Tampa, Greater Area

demographics

market highlights

Tampa-St. PetersburgClearwater, FL

CBSA

Square Miles

2,554

Population

2,757,566

Households

Square Miles

7.90%

2,554

Population

2,757,566

Households

1,166,605

Household Income Median

were started in 3Q 2012. This represents an increase of 31.0% compared to last year’s rate of 1,173 units. The annual starts rate, compared to last year, increased by 24.0%, to 4,739 annual starts. Singlefamily Quarterly closings totaled 1,269 units, which is 0.2% higher.

market highlights

Tampa-St. PetersburgClearwater, FL

CBSA

• In Tampa, 1,537 single-family units

1,059,081

Unemployment

SF at River Club Plaza. Highland Packaging Solutions signed a 243,903 SF Industrial lease at 141410 Gordon Food Service Dr. in East Hillsborough City. Nedco Health at Netpark signed a 143,274 SF Office lease in the 1-75 Corridor market. buildings totaling 169,607 SF were completed in the Tampa/ St. Petersburg market area. This is compared to one building totaling 6,000 SF completed in the Q3 of 2012.

$49,596

Employees (Total)

demographics

• Walmart has moved into a 145,000

• During the Q4 of 2012, six Office

1,166,605

Household Income Median

FL - Tampa/St. Petersburg

Store, Dollar General & Family Dollar are expanding into the Tampa market.

• The Office investment property

market is heating up. Parmenter Realty Partners purchased 2 buildings on Rocky Point for $85.5m; Feldman Equities purchased Wells Fargo Center downtown for $44.8m; Parkway Properties purchased The Point on Rocky Point for $46.8m; and there are several other similar deals currently under contract.

$49,596

• Office leasing has picked up in

Employees (Total)

Q4 of 2012 in the Westshore and Downtown Tampa markets. Pricewaterhouse Coopers recently signed a 248,000 SF build-tosuit office deal with MetWest International across from Tampa International Airport.

1,059,081

Unemployment

7.90%

• Coca-Cola USA completed the build

• The Tampa market area is growing

at a moderate pace and the above average payroll growth is providing a lift to wage gains in Tampa. A contact combination of stronger job creation and improved housing affordability Coldwell Banker Commercial is boosting migration. As a result, the NRT - Tampa area’s population growth surpassed 5010 W. Kennedy Blvd. the US in 2011 for the first time since Tampa, FL 33609 2006. Strong demographic trends and (813) 286-2964 low interest rates are creating the best www.cbcworldwide.com environment to invest in Multi-Family housing in 100 years, as quoted by the TBBJ.

OFFICE

• Retailers like Wawa, The Container

out of a 202,500 SF lease in Q4, one of the few remaining large blocks of Industrial space. Rents for those property types have inched up as a result of scarcity.

contact

Coldwell Banker Commercial • Multifamily and healthcare are Sage Corporate Advisors some of the sectors seeing the most 400 N Tampa St. Suite 2430 activity. Universities also continue to Tampa, FL 33602 expand in the area. (813) 999-4944 www.cbcsage.com • Banks are loosening credit and making financing more readily available compared to last year.

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

FL - Winter Haven

demographics

market highlights

LakelandWinter Haven, FL

CBSA

Square Miles

2,010

Population

228,998

Household Income Median

$40,730

Employees (Total)

245,900

Unemployment

demographics

• Winter Haven, a sub-market of the

Square Miles

193,495

Households

will be a key element of the state’s growing international influence. Surrounding the site on 900+ additional acres, the terminal will lead to the construction of a business and warehousing park.

60,760

Unemployment

6.60%

& Johnson, will invest $185 million in a new 100,000 SF production facility in Athens, GA. The company will produce specialized surgical sutures and is expected to create 75 new jobs. to thrive as approximately $140 million worth of investment is slated to be spent within the next 2 years. Projects include: a $24 million expansion of The Classic Center;The construction of a $36 million Hyatt Hotel; The development of a $30 million student housing complex called ‘The Standard’; A $50 million Broad Street project, consisting of four commercial buildings

$40,278

Employees (Total)

• Ethicon Inc., a subsidiary of Johnson

• Downtown Athens, GA continues

77,486

Household Income Median

• The Evansville Western Terminal

8.60%

1,031

Population

vision and potential for the Winter Haven Intermodal Terminal and noted that Panama Canal shipping will double after the widened waterway opens in 2014. He added “FL’s strategic position is a perfect opportunity for the state to become an international shipping hub.”

market highlights

Athens-Clarke County, GA

CBSA

Tampa Bay metro area, is opening several eateries. Locations such as Starbucks, Chick-Fil-A, Panera Bread, and Fire have either opened or are opening soon.

• FL Governor Rick Scott lauded the

606,019

Households

GA - Athens

• The long term economic impact

of this project will enhance Winter Haven and Central FL’s future for generations to come.

contact

Coldwell Banker Commercial NRT - Winter Haven 290 Cypress Gardens Blvd. Winter Haven, FL 33880 (863) 294-7541 www.cbcworldwide.com

Coldwell Banker Commercial Upchurch Realty 2405 W. Broad St. Suite 150 Athens, GA 30606 (706) 354-7870 www.upchurchrealtycommercial.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

GA - Atlanta

demographics

market highlights

Atlanta-Sandy SpringsMarietta, GA

CBSA

Square Miles

8,376

Population

demographics

the nation for the lowest cost of doing business and holds the 8th position for the largest economy in America.

CBSA

• Carbondale Business Park is a shovel-

Dalton,GA

Square Miles

Apartment units in Atlanta’s pipeline, 3,329 units under construction and 388 units being redeveloped. In the second half of 2012, Atlanta witnessed 39 apartment sales totaling just over $500 million.

2,028,400

market highlights

• Atlanta is ranked among the best in

• There are currently 15,319 prospective

5,521,582

Households

GA - Dalton/Whitfield County

ready Industrial and Commercial site located on I-75, ready for manufacturing, warehousing, and distribution. Publicly owned, available lots range from 3 to 50 acres with all utilities.

634

Population

134,366

Households

• Engineered Floors, LLC is currently

undergoing a 200,000 SF expansion to their existing 200,000 SF manufacturing facility.

46,872

• Overall Q4 vacancy declined to 15.9 Household Income Median

percent as the Atlanta Office market posted four consecutive Quarters of positive absorption for the first time since 2007.

$60,590

Employees (Total)

2,223,339

Unemployment

• Horizon Group’s Outlet Shoppes at

Atlanta, a 370,000 SF Retail outlet center in Woodstock, broke ground in 2012 while Avalon, North American Properties’ 550,000-SF Mixed-Use development in Alpharetta, is expected to begin construction in the Q1 of 2013.

8.40%

• Academy Sports, Kohl’s and Petco are

Household Income Median

located in a new Retail development off of I-75.

$46,511

Employees (Total)

64,498

Unemployment

11.30%

• Average residential sales price

increased by 17 percent from 2011 to 2012.

• A 5 year education SPLOST passed

county-wide in 2012.

• Dalton State College has

approximately 6,000 students. Along with offering 19 bachelor degrees, DSC is introducing intercollegiate athletics with basketball in fall 2013.

• The Atlanta Industrial sector exhibited

healthy demand growth throughout 2012, adding 1.3 million SF of occupied space in Q4.

contact

Coldwell Banker Commercial Metro Brokers • Key Industrial lease transactions during 3575 Piedmont Rd 2012 included Home Depot, which NE Building 15 Suite 950 completed a 1.1 million SF build-toAtlanta, GA 30305 suit lease in the I-75 South submarket (404) 320-4800 and International Paper, which leased www.cbcmetrobrokers.com 356,000 SF at 300 Horizon Pkwy. in the Northeast Atlanta submarket.

OFFICE

Coldwell Banker Commercial Kinard Realty 704 S. Thornton Ave. Dalton, GA 30720 (706) 226-1985 www.cbcnorthgeorgia.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

GA - Hinesville/Fort Stewart

demographics

market highlights

Hinesville-Fort Stewart, GA

CBSA

Square Miles

demographics

• The Hinesville/Fort Stewart MSA was

CBSA

the third Fastest Growing MSA in the U.S. in 2011-2012.

• The Hinesville/Fort Stewart MSA

920

Population

GA - Macon/Bibb County

73,844

• Tractor Supply located a half million

Macon, GA

Square Miles

is among the top 4 leaders in employment growth rates since prerecession.

market highlights SF distribution facility in Macon, GA to be completed in 2013.

• Vacancies are falling as Savannah

1,725

Population

Port creates new distribution opportunities in Macon, GA.

232,119

• New construction of speculative

• Fort Stewart is the largest military Households

installation east of the Mississippi River and is 5th in the nation in military population.

26,115

Household Income Median

12,145

Unemployment

8.90%

89,721

• Residential development consists Household Income Median

• Fort Stewart has a $5.2 billion

$48,667

Employees (Total)

Households

Industrial spaces are at an all time low.

economic impact on the region as of July of 2012.

primarily of three new large scale Apartment complexes.

$47,145

• The City and County governments

• Liberty County is centrally located

between 4 deep water ports and 2 are within 45 minutes of the site.

• Liberty county has a highly

Employees (Total)

83,398

Unemployment

9.20%

were consolidated by a local election in 2012 and the consolidation is expected to be completed in 2013.

• Macon is home to the World’s

Largest Cherry Blossom Festival; with over one million visitors in attendance the last three years.

disciplined, motivated and trained military retiree work force.

contact

Coldwell Banker Commercial Holtzman Realtors 730 General Stewart Way Hinesville, GA 31313 (912) 408-4040 www.cbcholtzman.com

Coldwell Banker Commercial Eberhardt & Barry 990 Riverside Dr. Macon, GA 31201 (478) 746-8171 www.coldwellbankercommercialeb.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

GA - Savannah

demographics CBSA

market highlights

Savannah, GA

Square Miles

HI - Honolulu

1,359

demographics

• Posting the highest volume in 2012,

CBSA

Port of Savannah is the 4th largest and fastest growing U.S. container port.

Honolulu, HI

Square Miles

• A 4,000,000 SF Warehouse space is

market highlights

600

available close to port.

Population

347,453

Households

130,609

Household Income Median

$55,567

Employees (Total)

129,296

• Gulfstream enters 12 year lease of

70,000 SF Office building, showing commitment to grow and hire 1,000 new employees.

• A 170 acre 560,000 SF luxury outlet

Unemployment

mall is projected to open summer 2014 in Pooler.

• The Industrial and Warehouse space

vacancy rate fell to 12.4 percent, spurring construction of 850,000 SF.

• Room tax revenues passed pre-

8.20%

Population

910,677

Households

311,782

Household Income Median

$67,192

Employees (Total)

365,718

• Hawaii’s construction has improved

over 2011, by attracting out-ofstate firm competition for awarded contracts with military and government projects. decreased to 5.3 percent.

5.30%

contact

Coldwell Banker Commercial Platinum Partners 128 Habersham St. Savannah, GA 31401 (912) 232-7120 www.cbcplatinum.com

Coldwell Banker Commercial NRT -Hawaii 737 Bishop St. Suite 2000 Honolulu, HI 96813 (808) 526-0896 www.cbcpacific.com

OFFICE

retail

than the continental U.S. with tourism posting a 10 percent increase in visitor arrivals over 2011 levels and setting record highs over 2007.

• In 2012, the unemployment rate

Unemployment

recession peak as the Hospitality industry surged when Savannah was ranked within the ‘Top Ten World’s Best Cities’ by AmEx Publishing Corp.

• Hawaii’s economy remains healthier

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

ID - Boise

ID - Eastern

demographics

market highlights • The major grocer openings in the

Boise CityNampa, ID

CBSA

Square Miles

610,611

Households

224,823

Household Income Median

$55,100

Employees (Total)

232,386

Unemployment

CBSA

Treasure Valley for 2012 include: Fred Meyer, Rosauer’s Supermarket and Whole Foods in downtown Boise. Construction is underway on Walmart’s first neighborhood market in Boise. Gordman’s opened two locations in Meridian and Nampa, Idaho.

11,788

Population

demographics

SF building March 15, 2013. area.

• Dicks Sporting Goods opened a new

store in 2012.

120,040

• Knudsen Corner, a 67 acre Retail Households

developments in the area including: the Meridian Town Center at 500,000 SF and a $250 million retail project in Meridian, Idaho. CenterCal Properties has leased over 250,000 SF of the project’s space with tenants to include: Gordman’s, Marshalls, Petco, Gap Outlet, Nike Outlet, Babies R Us, Toys R Us, Cinema West and Big Al’s.

professional developmen, kicks off in the spring of 2013.

42,871

Household Income Median

• There have been several new

$40,842

Employees (Total)

28,908

Unemployment

5.70%

contact

• Permits for Multi-Family

Coldwell Banker Commercial NRT - Salt Lake City 6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121 (801) 947-8300 www.coldwellidaho.com

• WINCO will relocate to a new 92,000 • Medical space has increased in the

2,519

Population

significantly in 2012 due to pentup demand from 2008 to 2011. Many retailers that previously put expansion plans on hold during the recession have decided to move forward with plans in 2012.

contact

Pocatello, ID

Square Miles

• Transaction activity increased

6.20%

market highlights

developments, along with projects already under way, may lead to an overbuilt Multi-Family sector. MultiFamily developers must still compete with low mortgage payments on starter homes.

Coldwell Banker Commercial NRT - Salt Lake City 6550 South Millrock Dr. Suite 200 Salt Lake City, UT 84121 (801) 947-8300 www.coldwellidaho.com

• Vacancy should continue to decline.

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

N/A

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

IL - Bloomington/Normal/McLean

demographics

market highlights

BloomingtonNormal, IL

CBSA

IL - Central

demographics

• State Farm Insurance continues

CBSA

employment growth.

• Local jobless rate stays consistently

Square Miles

best in the state.

1,184

market highlights • Caterpillar Inc. has continued

Peoria, IL

Square Miles

to progress their plans for a new headquarters. The City of Peoria has proactively supported redevelopment in the CBD, River Front, and Warehouse District. This is being done specifically to enhance marketability of Peoria to the 25-41 year old demographic.

2,470

• The local housing market is up 20 Population

percent for 2012.

168,918

Population

377,630

Households

153,377

Household Income Median

$60,133

157,932

• Retail market is improving as Households

vacancies decrease.

70,687

• Existing supply of Industrial space

has been absorbed, and there is need for 25,000-100,000 SF of Industrial space.

• Apartment market is experiencing

low vacancy rates.

Household Income Median

$59,825

Employees (Total)

69,980

Employees (Total)

Unemployment

6.30%

Unemployment

• There is new construction in Retail.

Build-to-suit construction continues to progress with new retailers entering the market.

• New construction in residential is

performing well and in shortage within the $225,000-$325,000 price point.

8.30%

• Many companies located in high rise

Office buildings in the CBD have relocated north to single story Office space.

contact

• The general feeling is that the market Coldwell Banker Commercial is stable, and vacancy rates are declining with values being stable. Devonshire Realty 4507 N. Sterling Ave. Suite 203 Peoria, IL 61615 (309)692-7707 www.cbcdr.com

Coldwell Banker Commercial Heart of America Realtors 802 S. Eldorado Rd. Bloomington, IL 61704 (309) 662-3377 www.cbhoacommercial.com

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retail

OFFICE

retail

Vacancy

Absorption

N/A

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

IL - Champaign/Urbana

demographics

market highlights

ChampaignUrbana, IL

CBSA

Square Miles

IL - Chicago, Southwest

1,923

demographics

• Carle Hospital continues construction

ChicagoNapervilleJoliet, IL-IN-WI

CBSA

of their new “North Tower” and has announced plans to expand their emergency room.

Square Miles

• Parkland College has begun work on

market highlights

7,212

their new Student Services addition.

Population

227,494

Households

Population

• Construction is underway for the new

800,000 SF facility for Easten-Bell Sports in Rantoul.

97,325

$47,851

Employees (Total)

80,156

Unemployment

7.40%

Households

to work on the Ikenberry Commons residence hall redevelopment and on the Electrical & Computer Engineering building.

Household Income Median

• The market for student Multi-Family

Employees (Total)

buildings continues to be very strong. Multiple student housing developments are being planned or underway.

property is falling as the spec buildings are being filled. Commercial spaces are very slow and the rental rates are below cost to construct.

3,484,370

$66,775

• New construction is still slow in all

aspects of the market unless there is a specific need for a company. The trend will continue until the banks’ inventories have been absorbed.

4,186,171

Unemployment

• There is movement in this market

8.60%

of developed Land being purchased from the banks. Most are great buys, and buyers have to be willing to wait.

• The Retail market continues its

recovery as vacancy is slowly falling and “A” locations have been redeveloped. The South Neil St. corridor is poised for continued growth with several development contact and redevelopment plans Coldwell Banker Commercial announced. Devonshire Realty 201 W. Springfield 11th Floor Champaign, IL 61820 (217) 352-7712 www.cbcdr.com

OFFICE

seen many large box Warehouses starting to fill in 2012. WW Grainger Co. purchased a 850,00 SF warehouse in Minooka for another major distribution location. International Harvester Truck Division purchased a 700,000 SF Warehouse.

• The vacancy rate on Industrial

• The University of Illinois continues Household Income Median

9,617,804

• The greater Will County area has

• The biggest change is in the way

people are looking at investments and lenders. The people with money are expecting high returns if they contact are giving up cash. While lenders Coldwell Banker Commercial claim they have money to lend, the requirements to get it are almost Honig-Bell impossible to meet. 950 Essington Rd. Joliet, IL 60435 (815) 725-8500 • The greater Will County, IL area www.cbchonigbell.com has position itself to be the nations crossroad for all types of transportation.

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

IL - Chicagoland

demographics

market highlights

ChicagoNapervilleJoliet, IL-IN-WI

CBSA

Square Miles

7,212

Population

9,617,804

Households

CBSA

continued to improve in the Q4 of 2012. There was 5,835,000 SF of net absorption. Some of the large leases signed in 2012 were Nippon Express for 500,000 SF and Pactiv Corp. for 490,000 SF.

8.60%

• Heyl Royster relocated to 10,000 SF

stand alone facility.

• There is strong demand for Class A

space but demand for Class B space is moderate.

868

Population

196,269

Households

82,636

Household Income Median

built in 2012 and an additional 2m is currently under construction. In 2012, there was 830,000 SF of Office space delivered with an additional 812,000 SF currently under construction. A 775,000 SF of Retail space was also built in 2012 and an additional 1.6m SF is currently under construction.

market highlights

Springfield, IL

Square Miles

• There was 2.5m SF of Industrial space

4,186,171

Unemployment

• The Chicago Industrial market

Office and Retail all decreased in 2012. There was very little new construction in 2012 in all three property types, but there are a number of new Industrial and Retail projects being built and proposed in 2013.

$66,775

Employees (Total)

demographics

• The vacancy rate in Industrial,

3,484,370

Household Income Median

IL - Springfield

• Most new construction is related to

the medical field.

• Residential Market is showing strong

increase in volume and moderate increase in pricing.

• New Medical and Retail sectors

$56,722

Employees (Total)

83,238

Unemployment

7.20%

continue to grow, and the economic certainty is opening new opportunities.

• The area is the State Capitol and is

centrally located in Illinois

• The Residential market continues

to show improvement. Sales of single family homes have increased with fewer foreclosures, and prices Coldwell Banker Commercial continue to increase. The Apartment market continues to be strong with NRT - Northbrook 2215 Sanders Rd. low vacancies, increasing rents and Northbrook, IL 60062 several new projects being built and (847) 313-4600 many being proposed. www.cbcworldwide.com • The Industrial and Retail markets continue to show improvement.

contact

OFFICE

contact Coldwell Banker Commercial Devonshire Realty 3201 Old Jacksonville Rd. Springfield, IL 62711 (217) 547-6650 www.cbcdr.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

IL - Tazewell County

demographics CBSA

market highlights

377,630

Households

153,377

Household Income Median

$60,133

Employees (Total)

157,932

Unemployment

East Peoria has sustained with large Retailers attracting smaller development in the area. Vacancies are down, and rents have remained steady.

• The Multi-Family arena continues to

be strong with many investors due to the low interest rates and vacancies. with local businesses hiring. A slow-down in development and new construction may curtail gains.

Population

415,734

Households

161,928

Household Income Median

$52,180

Employees (Total)

198,804

• The Martin Luther King Bridge Jr.

Memorial Bridge was completed in 2012. It provides a grand entrance to downtown by Headwaters Park and has improved the downtown district. The bridge includes 25 plaques with quotes from Dr. King, a soaring 50foot high arch and state-of-the-art lighting.

7.90%

• Parkview Regional Medical Center,

a state-of-the-art new 446 bed hospital, has created more traffic on the NW side of Fort Wayne. This traffic has caused a new exit to be put in on I-69 at Union Chapel Rd..

• Private Healthcare has slowed

with multiple deals drying up in anticipation of pending health care reform. The concern over aged receivables appears to be paramount.

contact

• All I-69 exits in Fort Wayne were Coldwell Banker Commercial recently renumbered to reflect the expansion plans to extend the Roth Wehrly Graber interstate to Southern Indiana. 1206 E Dupont Rd. Fort Wayne, IN 46825 (260) 255-5501 www.commercialindiana.com

Coldwell Banker Commercial • The Residential market is showing Honig-Bell strong signs of improvement, likely 4039 Route 59 Naperville, IL 60564 a portent of stronger economic (309) 263-7400 growth and commercial market www.cbchonigbell.com improvement.

OFFICE

in Indiana.

complex which overlooks the Parkview Field, a minor league baseball stadium, on the third and fourth levels of the building has been completed. The complex also houses an Irish pub and a credit union on the lower level and a law firm on the second level.

1,363

Unemployment

• Regional unemployment has receded

8.30%

• Fort Wayne is the second largest city • The new Harrison Apartment

Square Miles

• Commercial development in

market highlights

Fort Wayne, IN

CBSA

invest, including key acquisitions in the downtown Peoria market. Tazewell County has seen development in Industrial markets with new construction and planned development for the coming year. Local hospitals continue their planned expansion.

2,470

Population

demographics

• CAT continues to expand and

Peoria, IL

Square Miles

IN - Fort Wayne

retail

OFFICE

retail

Vacancy

Absorption

N/A

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

N/A

Absorption

N/A

Absorption

N/A

Rental Rates

N/A

Rental Rates

N/A

IN - Indianapolis MSA

demographics

market highlights

Indianapolis, IN

CBSA

Square Miles

3,863

Population

IN - Muncie

demographics

• Office vacancies decreased to 9.3

CBSA

percent in Q4, becoming the 4th straight decreasing quarter of the year.

expansion.

• Ground broken on new 276 unit

Student Apartment Complex.

393

• A new Auto Mall center has broken

slightly to 6.7 percent with spec construction on the way.

1,755,394

• Magna announces 60,000 SF

Muncie, IN

Square Miles

• The Industrial vacancy rate rose

market highlights

Population

ground.

115,425

• In 2012, Residential unit sales

• Retail made a slight comeback with Households

690,844

a decreased vacancy to 7.3 percent and a positive absorption of over 440,000 SF.

Household Income Median

$60,003

• REO and Special Asset sales slowed

Employees (Total)

overall in 2012 and are down 42 percent from the previous year.

787,836

Unemployment

Household Income Median

increased 14.5 percent and on average the price is up 5 percent.

48,625

• Spartech Corporation completed a

60,000 SF expansion.

$40,907

• Progress Rail is renovating 40,000

• There is confidence returning to

Indianapolis and Central Indiana companies, both large and small, through new projects, minimal hiring and increased planning activity.

8.00%

Households

Employees (Total)

42,446

Unemployment

9.30%

SF of existing Office space for their engineering department.

• Indianapolis is poised for several

new construction projects in the Industrial, Multi-Family and Restaurant arenas.

contact

Coldwell Banker Commercial Realty Services 8888 Keystone Crossing Suite 120 Indianapolis, IN 46240 (317) 249-9000 www.cbcrs.com

Coldwell Banker Commercial Lunsford Real Estate 3601 W. Bethel Ave. Muncie, IN 47304 (765) 289-2228 www.cblcre.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

KS - Garden City

demographics

market highlights

Garden City, KS

CBSA

KS-MO - Kansas City Metro

demographics

• Vacancies are declining with the • There is an increase of new

Square Miles

companies coming into the city, creating the need for new construction.

1,302

Population

42,609

Households

Household Income Median

Square Miles

• The market has never had a down-

• Prairiefire is a new Retail and

Apartment project with the Museum of Natural History underway.

819,900

• Metro home sales are up 20 percent

over last year.

Household Income Median

• The community has always had a

$43,008

strong economy.

Employees (Total)

13,558

Employees (Total)

Unemployment

4.90%

Unemployment

$60,301

• Kansas is keeping track of natural gas

development as the reserves in the western part of the state are under consideration for mining.

914,989

• 660,860 SF of Industrial space was

absorbed in the last quarter.

6.40%

contact

Coldwell Banker Commercial The Real Estate Shoppe, Inc. 1135 College Dr. Suite E Garden City, KS 67846 (620) 275-7421 www.cbcworldwide.com

Coldwell Banker Commercial Fishman & Company 1948 E. Santa Fe Olathe, KS 66062 (913) 782-9000 www.cbcfishman.com

OFFICE

IKEA have announced new stores and AMC, a new corporate Office. 2012, and 377 units are already under way for 2013.

2,076,653

Households

turn, so now with increased activity, the market is increasing in value.

• New construction is back. REI and

• 614 Apartment units were built in

7,857

Population

• The Residential market is very strong.

13,697

Kansas City, MO-KS

CBSA

increased interest in Garden City, KS.

market highlights

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

KY - Lexington

demographics CBSA

KY - Louisville Metro

market highlights

Lexington, KY

demographics

• Bingham McCutchen Law Firm hires

Louisville Jefferson County, KY-IN

CBSA

250 people.

market highlights

• Medical and Technology are sectors

Square Miles

experiencing growth.

1,479

Square Miles

4,135

• Unemployment was down two Population

percent in December of 2012.

473,956

Population

1,263,217

• Lexington’s 2012 housing sales are Households

up 17 percent over 2011.

202,332

• There are state and local incentives

available for new development.

Household Income Median

$53,106

Employees (Total)

• The Lexington area is within a one

day drive to approximately 2/3 of the U.S. population.

220,981

Unemployment

Households

506,857

Household Income Median

$54,741

Employees (Total)

549,941

• Louisville employment has been

stronger than many markets during the last two years. Contributors have included the UPS National Airhub, the Ford plants, GE Appliance Park, YUM! Brands, the vitality of the medical industry (example: Humana acquired Kindred of St. Louis in 2011), and Amazon.com.

• Investor interest in Louisville Multi-

Family is high, with cap rates higher than in glitzier markets. The problem, as elsewhere, is a lack of product. Occupancy is above 93 percent for upscale and 90-93 percent for lower. A significant number of sales closed in 2011 and 2012. New construction is underway.

• Retail in Louisville is flat and causing

6.10%

Unemployment

low double-digit vacancies. Poised to bounce back once the national economy rebounds; newcomers like Nike Outlet, Trader Joe’s, Urban Outfitters, Cabela’s and others create a good beginning.

7.60%

• Industrial Louisville leasing activity

is strongest in five years. Rates have been fairly flat, but are starting to rise. Coldwell Banker Commercial Vacancy has dropped below 7 percent for the first time in the last five years, McMahan Co. 10600 Timberwood Circle spurred by growth of e-commerce Suite 7 distribution. Louisville, KY 40223 (502) 425-8800 • Louisville Office remains a weak www.cbcworldwide.com sector but with some improvement, especially in Class A.

contact

Coldwell Banker Commercial McMahan Co. 444 Lewis Hargett Circle Suite 240 Lexington, KY 40503 (859) 219-0080 www.cbcworldwide.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

KY - Southern

demographics

LA - Acadiana

market highlights • RC Components expands operations

Bowling Green, KY

CBSA

demographics CBSA

in Bowling Green.

• Corvette introduces 2014 Stingray to

Square Miles

be built in Bowling Green.

848

market highlights

Lafayette, LA

Square Miles

1,010

121,646

Households

50,840

Green with a new high performance engine line.

• KOBE Aluminum is expanding

operations in Bowling Green.

• Davert USA to establishe operations

Household Income Median

in Bowling Green and create 20 Jobs.

$46,805

Population

264,966

Households

101,487

Household Income Median

$54,248

Employees (Total)

139,997

operational disruptions. The offshore drilling in the Gulf of Mexico has resumed to full capacity.

• New construction in both commercial

and residential is at record levels.

• Travel and tourism continues to

attract visitors to the Acadiana Region which drives a strong Hospitality market.

• The average home price rose 5 Employees (Total)

50,727

Unemployment

6.70%

percent in 2012.

drive our market with new companies moving into the area and expansion of existing facilities.

• The mild hurricane season caused no

• GM Announces expansion in Bowling Population

• The oil and gas industry continues to

Unemployment

• There are very few commercial loan

defaults in the area, therefore the local banks remain strong and have acquired other financial institutions throughout the southeast.

3.70%

• The closed commercial sales in

2012 exceeded all previous years, and 2013 is anticipated to stay on a similar track through the first 6 months.

contact

Coldwell Banker Commercial Legacy Real Estate Group 2435 Fitzgerald Industral Dr. Suite 102 Bowling Green, KY 42104 (270) 781-3844 www.cbclegacy.com

Coldwell Banker Commercial Pelican Real Estate 806 E St Mary Blvd. Lafayette, LA 70503 (337) 233-9541 www.cbcpelican.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

LA - New Orleans

demographics

market highlights

New OrleansMetairieKenner, LA

CBSA

Square Miles

3,153

Population

• A 424 bed University Hospital and a

CBSA

VA Hospital are under construction; spurring real estate investments in surrounding area.

• The South Market District in New

366

Population

40,753

Households

23,744

Household Income Median

and attractive lifestyle, the Midcoast area is seeing an increased activity in sales of residential properties. high school and college students is closer to becoming a reality.

$52,132

Unemployment

• Retail sales were ahead in 2012 for

of improvement with 3 percent appreciation to average sales price and increase in unit sales.

458,428

• Loyola Streetcar Line is now open

5.50%

upswing with the construction of the new Super Walmart and Tractor Supply Center. A 170,000 SF Retail center is also due to open in Fall 2013.

• Due to continued national exposure

• Residential market showed signs Employees (Total)

• Retail development is on the

• The Many Flags Regional Campus for

Orleans CBD will add 170,000 SF of Retail and 573 Apartment units starting February 13, 2013.

$58,413

market highlights

Rockland, ME

Square Miles

attract companies and entrepreneurs because of improved business incentives, tax structure, and political climate, vacancies are falling.

469,474

Household Income Median

demographics

• Due to New Orleans’ ability to

1,230,886

Households

ME - Midcoast

and providing visitors with another public transit option to the Train and Bus Station in the New Orleans CBD.

Employees (Total)

15,971

the region, and the outlook for 2013 is looking good for businesses and Retail sales.

Unemployment

6.10%

• Tourism and hotel bookings are also

looking very good for 2013.

• Trade area for the Midcoast Region

includes 114,000 residents.

• New Orleans 2013 Super Bowl

proved that the city is built to handle the week of events.

contact

Coldwell Banker Commercial TEC Realtors 701 Loyola Ave. Suite 401 New Orleans, LA 70150 (504) 566-1777 www.cbctec.com

Coldwell Banker Commercial SoundVest Properties 147 Park St. Rockland, ME 04841 (207) 596-7478 www.soundvest.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

MD - Eastern Shore

demographics CBSA

market highlights

36,349

Households

15,546

Household Income Median

Square Miles

• While the mid-shore market isn’t

exposed to large national tenants, the Retail sector is beginning to show signs of interest.

• In the past 4 years, new commercial

construction has followed the path of the Washington-Baltimore metro area. The mid-shore area has been dominated by smaller infill projects.

$67,241

market highlights

Lansing-East Lansing, MI

CBSA

Decker moving some years ago, there has been real lag in new tenants.

269

Population

demographics

• With the exception of Black and

Easton, MD

Square Miles

MI - East Lansing MSA

1,707

Population

453,378

Households

184,334

18,511

Unemployment

6.80%

the Lansing/mid-Michigan area. Much of that growth in major business and industry has been through expansion of their own facilities instead of absorption of existing Industrial space.

• Both Residential and Industrial new Household Income Median

$54,211

Employees (Total)

165,594

construction has increased in 2012 and should continue to increase in 2013.

• Residential sales grew by 15 percent

well to the new market values. The activity is very positive.

• The most significant change is sellers

recognizing the change in market values and pricing their properties accordingly.

Unemployment

in 2012, and the sales volume was up 24 percent. The number of homes on the market continues to decrease and is starting to drive up the real estate values.

6.70%

• Employment locally continues to

improve as a result of small business expansions, as well as, growth with major employers like General Motors, the Medical industry and services, Emergent Biosolution, and FRIB/ cyclotron federal funding at Michigan State University.

• The mid-shore offers a terrific

lifestyle for families. The convenience of being within an hour and half of the center of Washington D.C. and Baltimore is a fact that is becoming contact more appealing to businesses, Coldwell Banker Commercial residential clients and customers. Chesapeake Real Estate Company 8707 Commerce Dr. Easton, MD 21601 (410) 822-9000 www.cbcworldwide.com

OFFICE

bringing approximately 100 white collar jobs to mid-Michigan from the Chicagoland area.

• There is positive business growth in

• The residential market has responded Employees (Total)

• Dart Container is expanding and

contact

Coldwell Banker Commercial • Local government and private business Hubbell BriarWood have funded the Lansing Economic 1020 S. Creyts Rd. East Lansing, MI 48917 Area Partnership (LEAP), which has (517) 321-5000 succussfully impacted regional www.cbcworldwide.com businesses and job opportunities.

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

MI - Western

demographics

MN - Central

market highlights

Grand RapidsWyoming, MI

CBSA

demographics

• The Mixed-Use and Rental

CBSA

development markets are exploding.

• The area is primed for Hotel and

Square Miles

Mixed-Use.

2,828

market highlights

St. Cloud, MN

remains at 5.8 percent.

1,753

Households

• Numerous Multi-Family buildings are

breweries, restaurants and other establishments.

779,129

Population

currently under construction.

189,957

• Multi-Family continues to be

• Home inventories are at record low.

293,209

Households

strongest sector for highest transaction volume in area. Distressed and bank owned properties account for majority of transactions in the area.

73,818

• The emerging markets are creating

building demands.

Household Income Median

construction in winter of 2012.

• The unemployment rate in area

Square Miles

• There was an increase of new Population

• Walmart Super Center completed

$55,111

Household Income Median

358,125

Employees (Total)

91,676

Unemployment

5.70%

$54,959

• Central MN market consists of Employees (Total)

Unemployment

6.50%

200,000 +/- MSA with major employment sectors including Manufacturing, Agricultural, Education, and Medical.

contact

Coldwell Banker Commercial Schmidt, Realtors 2168 Wealthy St. SE East Grand Rapids, MI 49506 (616) 459-0400 www.cbcworldwide.com

Coldwell Banker Commercial Orion Real Estate 630 First St. S. Waite Park, MN 56387 (320) 251-1177 www.cbcorion.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

MN - Mankato

demographics

MN - Minneapolis/St. Paul Metro

market highlights

Mankato-North Mankato, MN

CBSA

Square Miles

1,205

Population

93,650

demographics

• Significant transportation

improvements including the opening of a new Highway between I-35 and Mankato, the new Highway 14 interchange with County Road 12 and the reconstruction of commercial thoroughfare Madison Ave.

Household Income Median

the opening of Mayo Clinic Health System’s new ER and other medical facilities.

3,286,547

Households

1,267,913

strong demand for 32 Ft clear bulk Warehouse. Corporate users are turning to development because of the lack of options. active resulting in strong interest in Land and redevelopment in the urban core.

$71,301

Employees (Total)

• Multi-Family land purchases and

Unemployment

Population

Household Income Median

as multiple new businesses have opened their doors in 2012.

49,122

$127 million ($305 SF).

6,063

• Multi-Family development remains

• The Hospitality industry has grown Employees (Total)

• A 1.7 million SF Normandale Lakes

1,695,892

Office Park sold for $268 million ($157/SF).

developments are on a record pace.

4.40%

around corporate users with over 900,000 SF under construction.

• In the Industrial sector, there is a

• Health care growth continues with

$51,381

• Office development is concentrated

• Retail - 417,000 SF Galleria Sells for Square Miles

• Commercial building permits have

39,391

MinneapolisSt. PaulBloomington, MN-WI

CBSA

rebounded and are at a 3 year high.

Households

market highlights

Unemployment

• Saks Fifth Avenue Off 5th will anchor

5.10%

a new outlet mall near Mall of America.

contact

Coldwell Banker Commercial Fisher Group 1961 Premier Dr., Suite 404 Mankato, MN 56001 (507) 625-4715 www.cbcfishergroup.com

Coldwell Banker Commercial Griffin Companies 1221 Nicollet Ave. S. Suite 300 Minneapolis, MN 55403 (612) 904-7833 www.cbcgriffin.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

MS - Gulfport/Biloxi

demographics

market highlights

Gulfport-Biloxi, MS

CBSA

Square Miles

• Ingalls to hire 5,000 new workers.

$53,669

• Mercy Health Systems announced

plans to build two 60,000 SF area clinics.

3,010

• A new 106 room Hampton Inn was

Population

433,579

• Greene County, Springfield was

Households

180,772

• Springfield recently ranked in the top

Square Miles

Biloxi International Airport. The airport suffered extensive damage due to Hurricane Katrina. A major renovation project is for the most part completed, and it has resumed commercial air service. New airlines are being regularly added.

market highlights

Springfield, MO

CBSA

• Gulfport is the location of Gulfport-

94,854

Household Income Median

• Casino expansion is taking place.

city in Mississippi after the state capitol, Jackson.

240,010

Households

demographics

• Gulfport is the second largest

1,503

Population

MO - Springfield

announced in southeast Springfield. recently ranked nationally in the top 5 for economic strength. 25 most promising cities to buy a new home.

Household Income Median

$43,704

• Recent area unemployment rates

dropped to less than 5.5 percent.

Employees (Total)

86,844

Employees (Total)

Unemployment

8.50%

Unemployment

174,753

5.40%

contact

Coldwell Banker Commercial Alfonso Realty, LLC 625 Courthouse Rd. Gulfport, MS 39507 (228) 287-1200 www.cbcworldwide.com

Coldwell Banker Commercial Vanguard, Realtors 1334 E Republic Rd. Springfield, MO 65804 (417) 887-5950 www.cbcvanguard.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

MO-KS - St. Joseph

demographics

market highlights

Square Miles

CBSA

north of the Kansas City International Airport with access to I-29, a major north- south Interstate Highway providing a corridor between Mexico and Canada and US Hwy 36, a major east-west route thru Northern Missouri.

1,661

Population

demographics

• St. Joseph is located just 35 minutes

St. Joseph, MO-KS

CBSA

MT - Billings

127,090

market highlights • Over 1,000 Multi-Family units are

Billings, MT

under construction or planned for 2013 & 2014.

4,683

• Residential permits are up 80% over

Population

155,673

• The energy, agriculture,

Households

63,905

• The new 220,000 SF Scheels Sporting

Square Miles

the prior year.

transportation and medical sectors are driving growth.

• This market is located in the heart of Households

the Life Sciences Industry with 5 of the major companies located here.

51,821

Goods store is under construction.

• Boehringer Ingelheim Vetmedica

Household Income Median Employees (Total)

48,146

Unemployment

5.10%

Household Income Median

is still expanding and building a 260,000 SF distribution center.

$44,333

• The new Eastowne Business Park

is complete and offering excellent Industrial building sites. A 50,000 SF shell building was completed in 2012.

$53,585

• Office vacancy remains high, and

Employees (Total)

69,806

• Demand for income generating

Unemployment

4.10%

retail lease rates have yet to return to pre-recession prices. investment property has outpaced supply.

• Rosecrans Memorial Airport, which

serves civilian and military needs, is located 3 miles west of the city. It boasts one ILS and GPS approach runways and provides capacity for any size aircraft.

contact

• St. Joseph is served by the Union

Coldwell Banker Commercial Pacific Railway and the Burlington Northern-Santa Fe Railway to General Properties provide direct access to all parts of 2700 N. Belt Hwy. St. Joseph, MO 64506 North America. (816) 364-2700 www.cbcommercialgeneral.com

OFFICE

Coldwell Banker Commercial CBS 1215 24th St West Billings, MT 59102 (406) 656-2001 www.cbcmontana.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

NE - Lincoln

demographics CBSA

NV - Reno/Sparks MSA

market highlights • For the second year, the Small

Lincoln, NE

Square Miles

Households

• Rural Nevada is booming as gold

Households

• $364 million is being spent on

$55,280

Employees (Total)

Unemployment

market.

164,527

• Shoppers Square Annex was sold for

$12.2 Million.

Household Income Median

• IBM bought Kenexa and is planning

$61,308

• The 99 Cent Only stores have opened

two locations.

on bringing hundreds more jobs to the area. Coldwell Banker Commercial Thompson Realty Group is the property manager for Kenexa’s Lincoln locations.

142,514

prices go up.

420,676

• There are 1031 buyers back in the

building the new Pinnacle Bank Arena in Lincoln.

Household Income Median

for $35 million.

over the decade.

6,606

Population

sold in Lincoln with a median price of $137,000.

126,751

• The View Apartments sold 308 units • Apple will invest $1 billion in Reno

Square Miles

• In 2012, a total of 3,859 homes were

299,958

market highlights

Reno-Sparks, NV

CBSA

Business Administration had a record year making loans in Nebraska. The amount of loans for business start-up was almost double the nationwide average.

1,414

Population

demographics

Employees (Total)

208,488

Unemployment

3.40%

9.60%

contact

Coldwell Banker Commercial Thompson Realty Group 620 N 48th St. Suite 101 Lincoln, NE 68504 (402) 421-7700 www.cbcthompson.com

Coldwell Banker Commercial Clay & Associates, Inc 5011 Meadowood Circle Suite 201 Reno, NV 89502 (775) 829-5900 www.cbcreno.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

NJ - Central & Northern

demographics

market highlights

NY-Northern NJ-Long Island

CBSA

Square Miles

7,711,074

Unemployment

• Goya foods Inc., the nation’s largest

Hispanic-owned food company, is looking to build a 600,000 SF headquarters and Warehouse in Jersey City. New Jersey awarded Goya $82 million in tax breaks to remain in New Jersey.

7,086,346

Household Income Median

decline in 2012 as absorption remained flat through out the market.

petroleum refinery, laying off 170 employees. investor and employers have become more optimistic about the economy

19,124,092

Households

• Hess will close their Woodbridge

• After the 1st of the year, some

6,726

Population

• Rental rates in the area saw a steady

$65,253

Employees (Total)

Square Miles

the area has been build-to-suit for tenants like BASF and Realogy.

market highlights

NY-Northern NJ-Long Island

CBSA

while Merck is moving its global headquarters out of NJ.

• Most of the new construction in

7,086,346

Household Income Median

• Amazon.com moved in to NJ,

rates for most of 2012, Q4 saw vacancy rates drop somewhat. This was mostly attributed to renewing tenants taking additional space.

19,124,092

Households

demographics

• After static to increasing vacancy

6,726

Population

NJ - Northern

$65,253

• New Jersey residential inventory Employees (Total)

• Apartments are now the asset of

Unemployment

8.50%

is low, and prices are beginning to increase in several areas of the state.

7,711,074

choice with more Apartment projects being approved.

8.50%

• According to the state of NJ, the Q4

of 2012 showed a decrease in the northern NJ Office vacancy rate to 15.4 percent.

contact

Coldwell Banker Commercial Feist & Feist Realty Corp. 180 Mount Airy Rd Basking Ridge, NJ 07920 (908) 696-1500 x10 www.feistandfeist.com

Coldwell Banker Commercial NRT - Parsippany 1 Campus Dr. Parsippany, NJ 07054 (973) 407-5480 www.cbcworldwide.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

N/A

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

NJ - Ocean County

demographics

market highlights

NY-Northern NJ-Long Island

CBSA

Square Miles

Population

Households

NM - Albuquerque

demographics

• Foodtown is closing its Toms River,

6,726

• There has been no recent new

Square Miles

19,124,092

• There are no residental market

Population

construction.

Employees (Total)

highest since 2009. continue to climb.

863,887

due to continued vacancy.

333,497

• Downtown Albuquerque is seeing an

money.

7,711,074

Unemployment

• New Retail construction is at its 9,288

Households

area.

$65,253

increase in Retail activity.

Household Income Median

$49,381

Employees (Total)

313,234

Unemployment

8.50%

• The housing market is increasing.

6.70%

contact

Coldwell Banker Commercial Riviera Realty, Inc. 550 Brick Blvd. Brick, NJ 08723 (732) 477-6800 www.cbcworldwide.com

Coldwell Banker Commercial Las Colinas 4801 Lang Ave. NE Suite 100 Albuquerque, NM 87109 (505) 897-7227 www.lcrealty.com

OFFICE

was approved by voters.

• Industrial rents continue to be low

• There are more Dollar Stores in the • Senior citizens are watching their

Household Income Median

• Paeeo del Norte Interchange rebuild

• Multi-Family effective rentals

changes.

7,086,346

Albuquerque, NM

CBSA

NJ location because people have decided to shop at lower price stores.

market highlights

retail

OFFICE

retail

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

N/A

Rental Rates

NY - Albany

demographics

market highlights

AlbanySchenectadyTroy, NY

CBSA

Square Miles

Population

Households

NY - Long Island

demographics

• GlobalFoundries is building a $2

2,817

• Whole Foods Market begins

859,707

• There are plans for a $25 million

Square Miles

construction on its first store in the region at Colonie Center Mall.

Employees (Total)

• Office lease rates are up modestly,

and vacancy rates are stable at 10 percent.

$65,253

Employees (Total)

store in the region in Saratoga Springs.

Unemployment

• In 2012, Fairway Market was the

7,086,346

Household Income Median

• Fresh Market plans to open a second

351,131

the largest Industrial lease for a 66,565 SF space in Melville, NY.

19,124,092

Households

in Colonie, NY, breaks ground. The project will include 200 Apartments, 117 Homes and an Office building.

$58,611

• Industrial lease rates are up modestly.

Vacancy rates edge up to 5.6 percent from 5.2 percent in Q1.

7,711,074

• Retail lease and vacancy rates are up

slightly.

Unemployment

7.40%

8.50%

contact

Coldwell Banker Commercial Prime Properties 621 Columbia St. Cohoes, NY 12047 (518) 785-9000 www.coldwellbankeralbany.com

Coldwell Banker Commercial Rosner & Associates 3124 Expressway Dr. S Islandia, NY 11749 (631) 232-4400 www.cbcli.com

OFFICE

signed the largest Office lease for 76,315 SF in Melville, NY.

largest retail lease in Westbury, NY.

• Shelter Cove, a Mixed-Use project

Household Income Median

• In 2012, Travelers Insurance Co.

• In 2012, Tritech Health Mgmt signed

6,726

Population

renovation to a historic building in Schenectady for 155 low income Apartments.

358,803

NY-Northern NJ-Long Island

CBSA

billion R&D Facility on their campus in Malta, NY.

market highlights

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

NY - New York City

demographics

market highlights

NY-Northern NJ-Long Island

CBSA

Square Miles

NY - Rochester

6,726

demographics

• Largest Office lease signings 2012:

CBSA

Viacom Inc. 1,605,043 SF (Midtown); Citibank, N.A. 490,527 SF (Midtown); Morgan Stanley Smith Barney LLC 1,152,763 SF (Downtown).

market highlights

Rochester, NY

19,124,092

Households

7,086,346

Household Income Median

their new home.

2,931

• Construction has begun on 2 hotels

net absorption of positive 571,333 SF in the Q4; Class B Office market recorded a net absorption of positive 201,996 SF in the Q4; and Class C Office market recorded a net absorption of positive 438,317 SF in the Q4 in 2012.

$65,253

Employees (Total)

Population

• The Office vacancy rate in the New

York City market has increased to 4,944,077 SF in the Q4 of 2012.

8.50%

Households

413,826

Household Income Median

$56,838

• Downtown Rochester was selected

for new MCC Campus.

• The downtown revitalization is

Employees (Total)

• Vacant sublease space in the New

Unemployment

as well as 1 additional hotel already approved.

1,037,427

gaining momentum.

• There is an abundancy of natural

York City market decreased to 7.4 percent at the end of the Q4 in 2012.

7,711,074

underway.

• Yogurt Plant selected Batavia, NY as

Square Miles

• Class A Office market recorded a Population

• Redevelopment of Midtown Tower is

resources and a great quality of life in upstate NY.

419,431

Unemployment

8.00%

• The average Office rental rates at the

end of Q4 are Class A at $56.77 SF, Class B at $45.40 SF, and Class C at $39.63 SF.

• Total Office inventory in the New

York City market area amounted to 544,800,444 SF in 3,930 buildings at Coldwell Banker Commercial the end of the Q4 of 2012. Alliance 1430 Broadway 9th Floor New York, NY 10018 (212) 344-0300 www.cbcalliance.com

contact

OFFICE

contact Coldwell Banker Commercial Meridian 4498 Main St. Buffalo, NY 14226 (585)730-0446 www.coldwellbankermeridian.com

retail

OFFICE

retail

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

N/A

Rental Rates

NC - Charlotte

demographics CBSA

NC - Henderson

market highlights

Charlotte, NC

demographics

• Chiquita finalizes the relocation of its • Ballantyne in Charlotte has largest

Square Miles

speculative Office construction in the country.

3,098

Population

Households

Square Miles

of I-85 and US Rte 1 in northeastern NC.

254

• Awesome 50 minutes to downtown • Kerr Lake, an 800 mile shoreline lake,

1,765,472

• Charlotte market expects 3,500 new

Population

43,081

683,991

• Residential sales prices and volume

Households

16,458

$60,618

Household Income Median

38,558

815,105

Employees (Total)

13,579

Unemployment

7.50%

Multi-Family units to come on line in 2013.

• This market is located at intersection

Henderson, NC

CBSA

Corporate HQ to Charlotte.

market highlights

Raleigh, NC.

is in Vance County.

• This is a great place to locate your

business.

were up in 2012.

Household Income Median

• Interstate 85 and US Rte 1 now run

thru this location.

• The area is a wonderful place to live, Employees (Total)

Unemployment

9.40%

work and play.

contact

Coldwell Banker Commercial MECA 1815 S. Tryon St. Suite A Charlotte, NC 28203 (704) 971-2000 www.cbcmeca.com

Coldwell Banker Commercial Advantage 7610 Six Forks Road Suite 100 Raleigh, NC 27615 (919) 863-0200 www.cbcadvantage.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

ND - Fargo/Moorhead

demographics CBSA

market highlights

Fargo, ND-MN

Square Miles

2,810

Population

OH - Cincinnati

demographics

• Costco just opened and has spurred

CBSA

Retail development, as well as MultiFamily on the southwest side of the Fargo-Moorhead area. ground on a new Campus as well as a new clinic.

202,280

Cincinnati, OH

Square Miles

• Sanford Health (hospital) broke

market highlights

4,398

Population

Fargo-Moorhead Metro area are at 4.9 percent.

86,119

• Low interest rates and a stable

Household Income Median

$53,008

Employees (Total)

105,993

Unemployment

economy have kept the residential market prospering.

• The strong agriculture in the Red

River Valley and high commodity prices have helped the area maintain a strong economy.

3.60%

Households

856,456

Household Income Median

$58,530

Employees (Total)

932,959

Unemployment

• The oil boom in the western portion

magazine for best business climate in the nation. Ranking was based on responses to the publication’s survey of corporate real estate executives regarding where businesses invest capital.

• Great American Tower at Queen City

Square in downtown Cincinnati tied for 4th place for the 2011 Emporis Skyscraper Award with two other buildings out of the 220 skyscrapers completed that year.

6.40%

• The Hilton Cincinnati Netherland

of the state has resulted in investors entering our market.

Plaza began a $10 million renovation last month, and it’s expected to be completed by year 2013. The 561-room hotel is Cincinnati’s third largest and last underwent a major renovation in the early 2000s.

contact

Coldwell Banker Commercial First Realty 2731 12th Ave. S. Fargo, ND 58103 (701) 237-3369 www.cbcfirstrealty.com

Coldwell Banker Commercial Reliant Realty 1125 West 8th St. Suite 200 Cincinnati, OH 45203 (513) 241-8725 www.cbcreliantrealty.com

OFFICE

Economic Index, Cincinnati’s economy is the 15th strongest economy in the nation. The index measures the economic health of 102 major metropolitan areas.

• Ohio ranked second in Site Selection

2,179,105

• Multi-Family vacancy rates in the Households

• According to the On Numbers

retail

• With Phase 1A of The Banks now at

OFFICE

capacity, the development team is looking to move forward to the next phase which includes an Office tower at Second and Walnut streets, a Hotel at Freedom Way and Main St., 300 Apartments, and ground level Retail along Vine Street.

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

OH - Dayton

demographics CBSA

OK - Oklahoma City Metro

market highlights

demographics

• Continued expansion at Wright

Dayton, OH

• Generally a soft market, especially

Square Miles

City of Dayton.

1,708

• Devon Energy moved into a

Oklahoma City, OK

CBSA

Patterson Air Base.

market highlights 1,800,000 SF tower.

• Pressure on Class A space. Industrial

Square Miles

market is picked over and new Retail is being added.

5,518

• Residential has increased but Population

834,458

Households

343,482

Household Income Median

$51,612

Employees (Total)

341,548

there has been minimal increase commercially.

Population

• In 2012, the local market was up 16.4

percent.

• There is a gradual improvement in

Unemployment

consumer and business confidence..

Households

500,869

Household Income Median

$57,129

Employees (Total)

502,994

seeing new construction.

• Apartment rate yields are higher in

this market than both coasts.

• Unemployment is at its lowest in

Unemployment

6.70%

• Apartment and Retail markets are

1,237,539

nation, and there is a continued expansion in energy sector.

• The world now knows about OKC

market as well as the NBA team.

4.60%

contact

Coldwell Banker Commercial Heritage Realtors 535 North Main St. Springboro, OH 45066 (937) 429-4500 www.cbcworldwide.com

Coldwell Banker Commercial Hocker & Associates 4323 Classen Blvd. Suite 100 Oklahoma City, OK 73118 (405) 840-4545 www.hocker.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

OR - Portland

demographics CBSA

Square Miles

Population

OR - Salem

market highlights

PortlandVancouverBeaverton, OR-WA

• Office vacancy decreased to 10.3

6,684

• 2012 largest Retail leases include

CBSA

percent, while Retail increased to 5.7 percent and Industrial remained stable at 7.2 percent.

• Hilfiker Square anchored by Trader

Joe’s and PetCo sold for a reported $8 million for approximately 45,000 SF in December 2012.

399,131

• Two iconic properties, the Statesman

increased to an average of 8.43 percent with an average sale price of $168 SF. at Columbia Tech Center, and Vestas American Wind Technology moved into 133,258 SF at the Meier & Frank Building.

$58,563

952,611

• There was 2,136,447 SF of Industrial

Unemployment

26,150 SF for ten years at Salmon Run.

1,925

Population

• Pace Health moved into 162,216 SF

Employees (Total)

• Veterans Administration leased

• In the Office sector, cap rates

878,239

Household Income Median

market highlights

Salem, OR

Square Miles

a 60,000 SF Kohl’s and two fitness facilities averaging 35,000 SF each.

2,261,246

Households

demographics

space under construction in the Portland market at the end of Q4 of 2012.

7.50%

148,354

Household Income Median

$49,102

Employees (Total)

119,269

Unemployment

• The 2012 Multi-Family market

Journal Facilities and the Greyhound Bus Depot, in Salem’s Downtown Central Business District are now for sale.

• Over 100 Apartment units are

scheduled to be constructed on the former Boise Cascade site in Downtown Salem adjacent to Riverfront Park.

• The State of Oregon has hired a

8.90%

consultant to evaluate current state leases.

• Two large properties within Fairview

was very strong for Portland with low vacancies and rising rents encouraging more development.

Industrial Park (the 60,000 SF former Sunwest Management Headquarters and a 150,000 SF location in Cascadia Canyon South) which were foreclosed contact upon in 2012, recently sold to local Coldwell Banker Commercial investors. Mountain West Real Estate 960 Liberty St. SE Suite 250 Salem, OR 97302 (503) 587-4777 www.cbcre.com

contact Coldwell Banker Commercial Mountain West Real Estate 960 Liberty St. SE Suite 250 Salem, OR 97302 (503) 587-4777 www.cbcre.com

OFFICE

Households

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

OR - Southern

demographics CBSA

PA - Pittsburgh

market highlights

Medford, OR

demographics

• Motorcycle USA purchased a 43,000

CBSA

SF building for their Headquarters.

• Retail vacancy is falling due to

Square Miles

increased demand.

2,785

market highlights

Pittsburgh, PA

national average.

5,280

Households

• Multi-family vacancy rate is lower

Center was fully leased at end of construction.

201,887

Population

for residential development.

• The economic optimism has

Household Income Median

increased the CRE activity.

$48,826

than national average.

2,355,582

• Office, Retail and Multi-Family

• Developers have started to buy Land

80,376

national average.

• Retail vacancy rate is also lower than

Square Miles

• The new Northgate Shopping Population

• The Office vacancy rate is lower than

Households

991,049

Household Income Median

$52,255

developments are strong in the market.

• The southern Oregon area has similar Employees (Total)

74,943

Unemployment

9.50%

rainfall amounts with San Francisco.

Employees (Total)

1,064,896

Unemployment

7.20%

contact

Coldwell Banker Commercial NW 1744 East McAndrews Rd. Suite J Medford, OR 97504 (541) 779-4466 www.cbcommercialnw.com

Coldwell Banker Commercial NRT - Pittsburgh 9600 Perry Hwy. Suite 200 Pittsburgh, PA 15237 (412) 548-1064 www.cbcnrtpittsburgh.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

N/A

Rental Rates

N/A

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

N/A

Rental Rates

PA - Southeastern

demographics

market highlights

PhiladelphiaCamdenWilmington, PA-NJ-DE-MD

CBSA

SC - Charleston

demographics

• Office vacancy rates for secondary

and tertiary areas remain at all time high levels.

market highlights • Southern Season announced plans

CharlestonNorth Charleston, SC

CBSA

to open a store in Charleston early summer 2013.

• Office vacancy is on the rise in Square Miles

Population

• Boeing is expanding its real estate

remote areas to higher density business centers. Employees want convenient access to Retail and food services.

4,630

5,979,545

Square Miles

holdings in North Charleston, SC through a deal to buy three Office buildings, totaling 178,000 SF on about 20 acres next to its existing 787 campus.

2,591

Population

665,272

Households

262,007

Household Income Median

$57,059

Employees (Total)

253,170

• Though multiple new construction Households

sites are in the works, Commercial and Retail sectors are struggling to lure tenants as well as dealing with downward price pressure.

2,318,224

Household Income Median

$65,847

Employees (Total)

• Sellers are coming to a realization

that the Commercial property market will recover very slowly and that rental rates will take many years to return to 2005 levels.

2,533,973

Unemployment

• Bucks County is still a haven

8.10%

Unemployment

for company relocation out of Philadelphia and New Jersey seeking tax relief.

7.10%

contact

Coldwell Banker Commercial CBH 1094 Second St. Pike Richboro, PA 18954 (215) 357-2880 www.cbhcommercial.com

Coldwell Banker Commercial Atlantic International, Inc. 3506 W. Montague Ave. Suite 200 Charleston, SC 29418 (843) 744-9877 www.cbcatlantic.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

SC - Columbia

demographics CBSA

market highlights

Columbia, SC

Square Miles

751,082

Households

300,796

Household Income Median

$52,689

Employees (Total)

287,817

demographics

• The first Whole Foods in Columbia

Square Miles

purchased the vacant 435,000 SF Palmetto Center on Main St. and is planning on turning it into a 850 student dorm.

• New construction deliveries

were very weak in 2012 with no significant Office or Retail space under construction. There is 1.2 million SF of Industrial space under construction, set to deliver in 2013.

market highlights • Greenville is rated #1 in the nation by

GreenvilleMauldinEasley, SC

CBSA

has moved into a 75,000 SF location in Cross Hill Market.

• Chicago Based Core Campus

3,701

Population

SC - Greenville

Site Selection magazine for both new and expanding international firms in last decade.

2,002

Population

644,419

Households

263,044

• Plans, approvals and financing

continue apace in connection with the SC Inland Port. It’ll link Greer with Charleston Harbor via Southern rail, a major economic boost for the upstate.

• Nearby private tracts and GSP

• Residential sales were up 7 percent

plus, over the worst its ever been.

Household Income Median

$49,487

Employees (Total)

288,021

International owned tracts, totaling 1,500 acres, are being prepared for development in support of the 150 acre inland port development.

• BMW opens new line to produce

the X4. The number one luxury auto brand in America now directly employs 7,000 associates and is producing nearly 1,000 vehicles per day at the Greer based plant.

• University of South Carolina is

Unemployment

expanding with new buildings in the athletics village. A new 260,000 SF Darla Moore Business School is under construction, and a new Law School is to begin construction within the year.

7.60%

Unemployment

7.10%

• Clemson University’s MBA program

and the Masters in Real Estate program are both now based in downtown Greenville.

• Innovista, a research arm of the

University of South Carolina, connects entrepreneurs, business and Coldwell Banker Commercial industry with the resources, talent and University inspired innovations United, Realtors to create greater success for all. 1711 Gervais St. Suite 300 Columbia, SC 29201 (803)799-4663 www.cbccarolinas.com

contact

OFFICE

contact

• The new Office construction at the

Coldwell Banker Commercial Caine 117 Williams St. Greenville, SC 29601 (864) 250-2800 www.cbccaine.com

retail

OFFICE

One Building is almost complete. Tenants to the building will include Haynsworth Law Firm and Certus Bank. Apartment construction is also a hot sector with several planned developments offering up to 750 new mid-priced units.

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

SC - Spartanburg

demographics

market highlights

Square Miles

644,419

Households

continues to dominate the downtown presence by bringing 900+ jobs to the city and occupying over 100,000 SF of Class A Office space.

263,044

Household Income Median

$49,487

Employees (Total)

288,021

Unemployment

a 1,000,000 SF fulfillment center on 240 acres at the intersection of John Dodd Rd. and I-26. The new center could provide over 1,000 new jobs during peak seasons. economic boost to the upstate by announcing a $1 Billion expansion that will create another 1,000 jobs by 2014. The expansion will allow BMW to build the new X4 crossover at the Spartanburg facility.

OFFICE

Population

526,490

Households

211,265

• Whirlpool has moved into its new

1.4 million SF green facility with production lines expecting to be at full capacity by year end.

Household Income Median

$47,279

Employees (Total)

208,265

based company, is constructing a new facility in Bradley County with an estimated capital investment of $1 billion and initial employment of approximately 500 highly skilled workers. The new integrated site will be Wacker’s first polysilicon production outside Germany.

7.20%

• Industrial sales and demand have

increased over the last year, and Retail activity remains somewhat flat.

• The Cleveland/Bradley County

area is home to 12 Fortune 500 companies. This market is positioned for tremendous growth in the next contact 5 years. In addition to the new Coldwell Banker Commercial manufacturing facilities, many supporting suppliers are looking to Hamilton & Associates relocate to the area. 2650 Peerless Rd. Cleveland, TN 37312 (423) 476-5535 www.hamiltoncommercial.com

• The Edward Via College of

Coldwell Banker Commercial Caine 340 E Main St. Suite 100 Spartanburg, SC 29302 (864) 342-2322 www.cbccaine.com

expectation. It is operating two shifts and looking to expand.

2,089

Unemployment

• BMW continues to provide an

contact

2,000 new jobs created in our area.

• Wacker Chemie AG, a Germany-

• Amazon completed and moved into

7.10%

• Amazon is now operational with over • Volkswagen’s production is beyond

Square Miles

• American Credit Acceptance

market highlights

Chattanooga, TN-GA

CBSA

$24 million, 40+ acre development of an Inland Port in Greer. The land will abut the Greenville Spartanburg International Airport. Norfolk Southern will operate trains serving the facility.

2,002

Population

demographics

• The SC Ports Authority announced a

GreenvilleMauldinEasley, SC

CBSA

TN - Chattanooga Metro

Osteopathic Medicine Carolina campus continues to bring in 150 new medical students each year. The growth of the school has created an economic boost to a dilapidated neighborhood and inspired a $2.7m Magnolia Lofts consisting of 27 Apartments opening spring of 2013.

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

TN - East

TN - Nashville

demographics CBSA

market highlights

Knoxville, TN

Square Miles

1,857

Population

demographics

• Tennova Healthcare has optioned

110 acres in West Knoxville and is considering building a new hospital and healthcare campus.

CBSA

• The economy is improving, causing

Square Miles

vacancy rates for most sectors to either decline or remain steady.

702,994

Population

• A new $119,000,000 proton therapy Households

center is being built in the Dowell Springs Business Park.

297,456

market highlights

NashvilleDavidsonMurfreesboroFranklin, TN

• The new Nashville Convention Center

5,687

• Downtown Nashville and the Cool

Springs Area are experiencing new Multi-Family development.

1,595,554

Households

635,077

Household Income Median

$56,636

• Nissan and General Motors are

adding employees in the Smyrna and Spring Hill locations due to increased demand for their models.

• The residential market continues to

Household Income Median

$48,362

Employees (Total)

307,125

Unemployment

improve with a 23 percent increase of sold units for 2012 vs. 2011.

• Investors have acquired a number of

Rental Communities.

• Commercial real estate seems to be

• Major Office headquarters for

moving again with an up-tick in sales and leasing all across the board.

Employees (Total)

Hospital Corporation of America and Tractor Supply Company are underway in Downtown and Brentwood.

725,719

• In November, the Brookings

6.00%

Institution announced Knoxville as one of only three U.S. Metro areas that is experiencing economic recovery. Knoxville is joining Dallas and Pittsburgh in this elite group.

Unemployment

6.10%

• Mixed-Use development continues

to have strong interest led by a proposed 900,000 SF development in Brentwood.

contact

Coldwell Banker Commercial Wallace & Wallace, Realtors 124 N. Winston Rd. Knoxville, TN 37919 (865) 690-1111 www.cbcww.com

Coldwell Banker Commercial Professionals 114 Cool Springs Blvd. Franklin, TN 37067 (615) 465-3737 www.cbcworldwide.com

OFFICE

will open Summer 2013, resulting in a number of new Hotels that are under construction or are planned.

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

TX - Amarillo

demographics CBSA

TX - Austin

market highlights

Amarillo, TX

demographics

• Healthy surge of commercial activity • United Supermarket breaks ground

Square Miles

on 19 acre supermarket, shop space and pad sites.

3,660

Population

Households

website has ranked Austin’s housing market 5th among the 10 healthiest markets for 2013.

1,730,983

from 2011 to 2012, and prices up near 5 percent.

• Job creation is up 4,200 in 2012.

Households

665,762

Household Income Median

$57,641

Employees (Total)

622,577

Austin the most “connected city” in America based on its use of IT to manage the electric power grid. These cities typically have higher growth rates, lower unemployment and higher Office occupancy.

• The Residential lot shortage Employees (Total)

89,400

Unemployment

4.10%

takes the top spot as one of the fastest growing cities.

• The Business Journal recently named

• Residential market up 13 percent

$46,698

• For the third consecutive year, Austin

• A real estate industry tracking

4,224

Population

regional Retail interest in Amarillo.

97,166

Household Income Median

Square Miles

• There is an increased national and

247,964

Austin-Round Rock, TX

CBSA

at the end of 2012 headed into 2013.

market highlights

challenges home builders and Apartments are essentially full.

Unemployment

• The largest gain in employment was

in the Professional and Business Services.

• A recently formed venture paid $859

5.00%

million to buy an eight-building, 3 million SF portfolio of Office buildings located in the Central Business District and suburbs.

• A joint venture has sold the 172,637

SF Capitol Tower Office building, a Class A tower located in Austin, for $49 million which included Coldwell Banker Commercial a comprehensive $10 million renovation program following its United, Realtors purchase in 2006. 2121 Sage Rd. Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com

contact

Coldwell Banker Commercial First Equity, Realtors 2101 S. Coulter Amarillo, TX 79106 (806) 354-3500 www.cbcamarillo.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

Rental Rates

TX - Bryan/College Station

demographics

market highlights

College Station-Bryan, TX

CBSA

Square Miles

TX - El Paso

2,106

demographics

• College Station, TX was recently

CBSA

recognized by Forbes as the 6th “Best Small Place for Business and Careers” and ranked 4th in the area for finding a job.

market highlights • The El Paso economy continues to

El Paso, TX

Square Miles

grow during the economic recession, thanks to the growth of Ft. Bliss and its $4.8 Billion in construction projects throughout the past 3 years and the influx of over 60,000 soldiers that is expected to increase the El Paso and surrounding area population by 144,000 people by 2025.

1,013

• Residential is looking very robust Population

214,971

Households

88,655

with year over year sales volume increased by 20 percent and with appreciation up 4 percent across the board.

Population

758,030

Households

236,575

• The Multi-Family sector continues

• Price is up in Retail and vacancy is Household Income Median

down, while Office remains flat and Industrial vacancies are down and prices are slightly up.

$39,968

Employees (Total)

60,491

Unemployment

5.00%

• Multi-Family is now stable after 3,500

Class A bed constructions in 2012 with a move-in date estimated to be online for August 2013.

Household Income Median

$44,689

Employees (Total)

209,837

Unemployment

• Hotels and motels are now in high

to experience strong demand characteristics with occupancy rates pushing to 96% and many of the newer developments enjoying over 98% occupancy. With the new units completed in 2012 and those currently under construction, occupancy is expected to dip slightly as developers continue to build in order to meet the shortage of units attributed to the growth of Ft. Bliss.

8.40%

demand with TX A&M becoming a member of SEC.

• Some major retail corridors are

experiencing vacancy rates below 5% which has helped push rents upward, and some developers have broken ground on new centers. Also, breaking ground in 2012 is the contact 600,000 plus square foot Fountains at Coldwell Banker Commercial Farah retail center that is scheduled to be completed by November 2013. Lewis Realty Group, Inc. 7338 Remcon Circle Suite 100 El Paso, TX 79912 • The Office sector remains relatively (915) 544-5205 stable with no real significant www.cbclewisrealtygroup.com change in 2012. However, the CBD Submarket has experienced some leasing activity.

• College Station just announced

a new 72 Bed Mental Health Rehabilitation Center, proving that Medical is very strong.

contact Coldwell Banker Commercial United, Realtors 2121 Sage Rd. Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

TX - Houston

demographics

market highlights

Houston-Sugar Land-Baytown, TX

CBSA

Square Miles

8,928

Population

5,937,339

Households

2,084,052

Household Income Median

• Houston was ranked as one of the

CBSA

best cities for your career in 2013 by Yahoo! and the coolest city in the nation by Forbes.

• A recent report projects that Houston

will have the healthiest housing market in the country in 2013.

• Construction has been completed

on a $16.5 million renovation of the 65,000 SF Building 12 at the NASA Johnson Space Center located in Houston. Features will include lighting controls, wind turbines, high-efficiency plumbing fixtures and roof garden.

6.00%

market highlights

Lubbock, TX

Square Miles

nation’s top 100 metropolitan areas in terms of economic recovery and 5th in employment recovery.

2,246,860

Unemployment

demographics

• Houston area ranks sixth among the

$65,395

Employees (Total)

TX - Lubbock

1,799

Population

279,239

Institute’s 2012 Top 25 Best Performing Cities which is based on jobs created and sustained in large metro areas.

Households

111,087

• Lubbock’s employment base grew 3.7

percent and was the 9th fastest in the nation.

Household Income Median

$41,203

Employees (Total)

101,281

Unemployment

• A study released by Pitney Bowes

projects that Lubbock will expand by 5,700 households from 2012 to 2017, a growth rate of 5.3 percent which makes Lubbock the 31st fastest growing metropolitan area in the U.S.

4.70%

• The Lubbock Economic Index was

up a remarkable 7.2 percent from November of 2011.

global Headquarters. The campus will include Office space, conference capabilities, training facilities and wellness and dining options.

• November’s 2012 Year-to-Date

housing sales are up by nearly 18 percent compared to November’s 2011 Year-to-Date with prices up a contact healthy 3.6 percent over the same Coldwell Banker Commercial period. Rick Canup, Realtors 4924 S. Loop 289 Lubbock, TX 79414 (806) 793-0888 www.cbclubbock.com

• The area’s Greenway Plaza property

is LEED Gold certified with 84.5 Coldwell Banker Commercial percent already leased and has sold for $124.5 million. United, Realtors 2121 Sage Rd. Suite 150 Houston, TX 77056 (713) 840-5000 www.cbcunitedrealtors.com

OFFICE

decreased significantly over the past year, dropping from 5.4 percent to 4.7 percent.

• Lubbock ranked 20th on Milken

• Phillips 66 has plans to build its new

contact

• Lubbock’s unemployment rate has

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

TX - Rio Grande Valley

demographics

market highlights

demographics

• Cinemark announces two locations in

McAllenEdinburgMission, TX

CBSA

TX - South/Central

• The Rio Grande Valley is still Square Miles

experiencing rapid Retail growth.

1,570

San Antonio, TX

CBSA

Edinburg, TX and Pharr, TX.

market highlights

Square Miles

7,340

751,544

Households

204,655

Household Income Median

$31,886

Employees (Total)

168,988

Unemployment

10.30%

pace allowing for new business opportunities.

Population

• New franchises continue to open

their doors across the Rio Grande Valley.

• Office occupancy continues to rise as

unemployment remains low.

• 7-Eleven announced the buy out

749,986

Household Income Median

$52,389

Employees (Total)

of Speedy Stop and plans to have approximately 7 locations in the Rio Grande Valley.

• Net absorption has occurred in all

2,093,608

Households

(Halliburton, Weatherford, and Baker Huges), continue to have an increase in activities, boosting employment.

• Net absorption continues to improve.

• REO Sales continue at a steady Population

• All oilfield service companies

sectors, especially Retail and Office.

• The residential market continues to

expand. The new and existing sales are returning to 2008 levels, and prices are continuing to rise.

• There is a return of private sector

construction, and capital is more available to investors and users.

730,244

• Population and employment

Unemployment

continue to grow in TX as well as San Antonio’s continuation to outpace most of the Country.

5.70%

contact

Coldwell Banker Commercial La Mansion 508 E. Dove McAllen, TX 78504 (956) 631-1322 www.cbclamansion.com

Coldwell Banker Commercial Alamo City 18756 Stone Oak Pkwy. Suite 202 San Antonio, TX 78258 (210) 483-6250 www.cbcalamo.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

TX - Southeast

demographics

market highlights

Square Miles

• Medical facilities continue to locate

Employees (Total)

136,945

Unemployment

10.00%

• Five hundred new hotel rooms are

under construction. their construction.

115,980

• Petro-Chemical Industry continues its

news of refinery and chemical plant expansions, new pipeline facilities and industrial services.

$49,974

second supercenter.

• Twin Pines Nursing Home began

Households

plant expansions.

41,805

• Port of Victoria has has an increase

• Retail centers in high profile areas do

Household Income Median

• Wal-Mart begins construction on the

2,248

Population

• Energy sector remains strong with

147,015

market highlights

Victoria, TX

Square Miles

and grow with surgical centers, hospice and urgent care.

379,235

Households

CBSA

first Class A building in southeast TX after extensive renovations.

2,154

Population

demographics

• 17 story Edison Plaza becomes the

Beaumont, TX

CBSA

TX - Victoria

in activity.

not have enough available space to service the demand.

Household Income Median

• Most new construction is limited to

Employees (Total)

41,963

Unemployment

5.20%

$50,344

• Kirkland’s, Beef O’Brady’s and Twin

Liquors are all open for business.

medical facilities and services, energy related industry and tax credit MultiFamily housing.

• Cities and counties have established

a cooperative effort in southeast TX to procure economic development for the entire region.

contact

Coldwell Banker Commercial Arnold and Associates One Acadiana Ct. Beaumont, TX 77706 (409) 833-5055 www.cbcaaa.com

Coldwell Banker Commercial The Ron Brown Company 2505 N Navarro Victoria, TX 77901 (361) 573-6191 www.cbcworldwide.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

TX - Waco/McLennan County

demographics CBSA

market highlights

Square Miles

• Increased Retail activity has absorbed

the majority of the “big box” Retail space.

234,783

market highlights

Salt Lake City, UT

CBSA

former Roomstore facility and will open a new Retail location and distribution center for central TX.

1,042

Population

demographics

• Bob Mills Furniture purchased the

Waco, TX

Square Miles

UT - Salt Lake Market

9,539

Population

1,140,107

• The first Aldi Food Market in Waco Households

has completed the construction of their new grocery store.

91,531

Households

• Waco ISD sold the former University

Household Income Median

High School property to a developer out of Dallas, TX.

$44,485

Employees (Total)

94,029

Unemployment

5.60%

• Baylor University completed

construction of the BRIC (Baylor Research and Innovation Collaborative), and tenants are now applying for space within the building.

376,706

Household Income Median

$66,176

Employees (Total)

567,447

Unemployment

• Utah has one of the best economies

in the country. From 2009 to 2012, Utah’s unemployment rate has dropped from 7.5 percent down to 5.2 percent, becoming one of the lowest rates nationally. In comparison, the national unemployment rate reached a high of 10 percent and has decreased to 7.9 percent.

• Utah’s commercial real estate

market is showing continued signs of a moderate recovery. Pockets of Salt Lake are seeing net absorption increases, vacancy rates decreasing, and a more positive outlook on the future which in turn is driving new construction.

• In 2012, the state of Utah was a

bright spot for the U.S. as it relates to Retail development. To highlight a few major achievements, Utah had the only regional mall in the country open in March with City Creek Center in downtown Salt Lake City.

4.90%

• One of the most frequently cited

indicators of overall economic health is housing. According to Donna Coldwell Banker Commercial Pozzuoli, President of the Salt Lake Board of Realtors, “Salt Lake City NRT - Salt Lake City 6550 South Millrock Dr. ranks among the top 25 major U.S. Suite 200 cities showing the biggest home Salt Lake City, UT 84121 price increases.” (801) 947-8300 www.coldwellutah.com • Utah is pro-business and a leader in economic growth.

contact

Coldwell Banker Commercial Jim Stewart, Realtors 500 N. Valley Mills Dr. Waco, TX 76710 (254) 776-0000 www.cbc-waco.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

VA - Fredericksburg Region

demographics

market highlights

WashingtonArlingtonAlexandria, DC-VA-MDWV

CBSA

Square Miles

VA - Lynchburg

5,627

demographics

• Year to date leasing activity for

CBSA

Industrial increased 70 percent in 2012. This is mainly due to some larger deals such as Regency Polymer Materials leasing 48,320 SF and relocating from Maryland to the region.

Population

Households

2,103,127

the leader in office leasing efforts with the following leases signed: SAIC with 26,175 SF; Regus with 13,500 SF; TrustComm Inc. with 13,000 SF; and Computer Sciences Corporation with 9,957 SF. Building 4 is now 100% occupied, and preleasing on Building 5 has begun.

$84,548

Employees (Total)

2,492,165

Unemployment

5.30%

slowly fall in all sectors due to several smaller tenants branching out to the Central VA area.

248,585

Households

100,680

Household Income Median

$46,100

51,000 SF shopping center anchored by The Fresh Market.

• Liberty University announced the

Employees (Total)

96,796

Unemployment

6.00%

construction of a 6,000 unit student housing project which caused several Multi-Family developers to put proposed developments on hold.

• 2010 Census shows that the

overall population of Lynchburg has increased by 2.2 percent with Liberty University’s growth being a contributing factor.

• New construction for single family

• Several larger retailers moved into

homes seems to be steadily rising as interest rates remain low.

the region. The retailers are: And That with a 42,000 SF space; Buy Buy Baby with a 36,000 SF space; Barnes & Noble with a 24,000 SF space; contact and Home Goods with a 22,500 SF Coldwell Banker Commercial location. Elite • In two years, the City of 1201 Central Park Blvd. Fredericksburg, VA 22401 Fredericksburg’s population grew (540) 786-1402 7.3 percent and was well above the www.cbcelite.com state average of just 2.3 percent. The growth has been attributed to jobs relocating.

OFFICE

a new store scheduled to open fall of 2013.

• S.J. Collins began construction on a

• The Quantico Corporate Center was

Household Income Median

• Fresh Market began construction on

• Vacancy rates are continuing to

2,124

Population

area. It is expected that the region’s population will increase 29 percent by 2020 according to the Weldon Cooper Center for Public Service at the University of Virginia.

5,523,778

Lynchburg, VA

Square Miles

• The population is climbing in the

market highlights

contact Coldwell Banker Commercial Read & Co. 101 Annjo Ct. Forest, VA 24551 (434) 455-2285 www.cbcread.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

VA - Williamsburg/Hampton Roads

demographics

market highlights

Virginia Beach-NorfolkNewport News, VA-NC

CBSA

WA - King County

demographics

• REIS reports a decline in vacancy for

• James City County Economic Square Miles

Population

1,677,195

Households

648,009

Household Income Median

5,894

Population

3,433,786

Households

1,373,207

the deepest shipping channels on the U.S. East Coast, which is a significant factor for the growth of the Industrial markets of Chesapeake, Suffolk, Norfolk, Portsmouth, Newport News, Hampton and Williamsburg.

637,163

Household Income Median

• Retail developers and tenants are

starting to dip their toes back into the water. There have been some speculative Land purchases in 2012 and a number of national retailers are looking at this market.

• Residential prices increased in 2012

1,502,591

and sales continue to improve.

• The aerospace industry continues to

• Hotel occupancy rates in Hampton

Unemployment

Roads MSA saw a third straight year of gains in 2012.

6.00%

Unemployment

grow. Coldwell Banker Commercial Danforth just closed on a Land transaction with Orion Industries and will consult with them on the construction of a 100K SF facility.

6.70%

• Riverside Doctors’ Hospital is

scheduled to open Q1 of 2013. The facility will sit on a beautifully landscaped campus at the intersection of Route 199 and Route 60 in Williamsburg. The campus is contact over 25 acres and is a component Coldwell Banker Commercial of the 380+ acre multi-use development named Quarterpath. Brooks Real Estate 4071 Ironbound Rd. Suite 100 Williamsburg, VA 23188 (757) 585-2959 www.cbcbrooks.com

OFFICE

outlook is very positive. Amazon, Boeing, Microsoft and many other employers are in expansion mode.

strong. Rental rates continue to rise along with sale prices. The question is how long can this continue.

$67,763

Employees (Total)

• Overall, Puget Sound employment

• The Multi-Family sector is still very

• At 50-feet, the Port of Virginia offers

$59,887

Employees (Total)

Square Miles

Authority lists six Fortune 500 Companies that are located in Williamsburg: Ball Metal, Caterpillar, Northrop Grumman, Owen-Illinois, SmithField Foods and Walmart Import Distribution Centers.

2,628

SeattleTacoma Bellevue, WA

CBSA

Office, Retail & Industrial in Hampton Roads.

market highlights

• Institutional investment sales are

trading at extremely low CAP rates.

contact Coldwell Banker Commercial Danforth & Associates 33313 First Way South Federal Way, WA 98003 (253) 874-3200 www.cbcdanforth.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

WA - Southwest

demographics

market highlights

Square Miles

demographics

• The volume of commercially zoned

PortlandVancouverBeaverton, OR-WA

CBSA

WA - Tacoma

6,684

Square Miles

• The commercial market is gradually Population

improving in all sectors. Absorption is up followed by cautious increases in rental rates.

2,261,246

Households

878,239

Household Income Median

providing the strongest demand for moderately priced Office buildings in the $3,000,000 price range.

Population

3,433,786

Households

1,373,207

Household Income Median

• The largest leases have been in the

• Apartment sales have been strong

6.70%

• Apartment vacancies are down to 4.1

percent, and submarket statistics for Class B/C Apartments are hovering at a staggering 1.8 percent. This means rents are up 2.4 percent in 2012 and forecasted at over a 4 percent contact average growth for 2013, 2014 and Coldwell Banker Commercial 2015. Garden style Apartments are still the darling investments of Offenbecher 929 East Main Suite 320 suburbia. Puyallup, WA 98372 (253) 840-5574 www.offenbecher.com

contact Coldwell Banker Commercial Jenkins & Associates 300 West 15th St. Suite 201 Vancouver, WA 98660 (360) 699-4494 www.cbcworldwidenw.com

OFFICE

struggle to hold up rates, while there is an increase of internal migration to Class B/C Offices. This will continue until the market purges remaining distressed projects. Vacancies are still high at 16.5 percent and expected to remain flat or with nominal improvement over the next several years. evident by build-to-suit distribution centers like the 1 million SF Amazon deal in DuPont. Unprecedented low SBA rates are driving owner/ user activity in manufacturing and aerospace acquisitions. Overall vacancy in Tacoma submarket is 5.6%, with 724,000 net positive absorption. Several requirements over 500k SF should make for a strong year in 2013.

1,502,591

Unemployment

with CAP Rates for Class “B” properties being in the 6.5 percent to 7 percent range. Several new Apartment projects are currently under development.

7.50%

• Newer Class A Office continues to

• An increase in Industrial space,

$67,763

Employees (Total)

20,000 SF range both in the Industrial and Retail sectors.

952,611

Unemployment

5,894

• Owner and user purchases are

$58,563

Employees (Total)

SeattleTacomaBellevue, WA

CBSA

Land sales is increasing at a steady pace, leading into new development activity. Among the largest commercial Land sales was a 16 acre parcel brokered by our firm.

market highlights

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

WI - Janesville/Beloit

demographics CBSA

market highlights

Janesville, WI

Square Miles

720

Population

160,224

Households

WI - Madison, Greater

demographics

• Miniature Precision Components

CBSA

Inc. leased 350,000 SF in a 700,000 SF building in Janesville. Beloit saw major investments in plant improvements and expansion by Kerry Ingredients, Kettle (Diamond Foods) and Dupont. stronger with a vacancy percentage less than 8 percent, down from a Q2 12 percent. providing space for startup companies and emerging existing companies was completed in Janesville.

$54,346

Employees (Total)

63,044

• The residential market finished

Unemployment

strong with an 18 percent increase in transactions, with average home values up 17 percent.

8.00%

• Spectrum Brands is staying local and

will build a new headquarters.

• The University of Wisconsin

continues new construction.

2,738

• The $120 million renovation and

• A 22,000 SF Innovation Center

Household Income Median

Madison, WI

Square Miles

• The Industrial sector finished

63,135

market highlights

Population

574,245

Households

242,725

Household Income Median

$65,668

Employees (Total)

281,044

expansion of Edgewater Hotel begins.

• Promega, which makes 2,000

molecular-based products for medical diagnostic use, is constructing a 260,000 SF building on its Fitchburg campus. The $110 million facility is designed to be in synch with standards in the global regulatory bodies.

• Epic Systems, the international

Unemployment

electronic medical records company, is adding to its sprawling Verona campus, this phase known as the “Farm Campus”. This addition to Epic will include 1,000 offices, a parking ramp for 1,000 vehicles, a huge auditorium and a field of energy generating solar panels.

4.60%

• Buyers are beginning to emerge,

and the market is seeing an uptick in interest from national retailers in the Janesville/Beloit market. Quaker Steak and Lube and Bob Evans both announced projects at the end of the contact Q4, and several other national brands Coldwell Banker Commercial have LOI’s on vacant sites. McGuire Mears & Associates • The Janesville/Beloit area is at the 400 Midland Ct. Suite 101 Janesville, WI 53546 epicenter of the Accelerators in (608) 752-6325 Medicine Corridor. Two companies www.mcguiremears.com have announced their intent to build facilities to supply the medical isotope Moly-99.

OFFICE

contact Coldwell Banker Commercial Success 7609 Elmwood Ave. Suite 102 Middleton, WI 53562 (608) 662-1110 www.cbcommercialsuccess.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

WY - Cheyenne Metro

demographics CBSA

market highlights

Cheyenne, WY

Square Miles

89,439

Households

36,986

investments in Cheyenne throughout 2012 with more expected in 2013.

• Multiple Microsoft investments into

2,686

Population

• Strong technological business

Cheyenne area include two new $112 million “Cloud” data centers as well as a “green” fuel cell-powered data center designed to run on biogas generated from a local water treatment plant.

International Markets

• NCAR (National Center for Household Income Median

Atmospheric Research) Super Computer, one of the top 20 super computers in the world, began operations in 2012.

$60,634

Employees (Total)

31,977

Unemployment

5.60%

• Swan Ranch Industrial Park

development continues to bring regional and national oil and gas operators to the region. Industrial absorption in the area beginning to be dominated by oil and gas.

• Residential values continue to rise

with overall sales and values at their highest levels since 2007. Several large Apartment and Multi-Family developments are scheduled to break ground in 2013.

contact

Coldwell Banker Commercial The Property Exchange 255 Storey Blvd. Cheyenne, WY 82009 (307) 632-6481 www.WyomingCommercialBrokers.com

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

p 70

Bermuda

Brazil - São Paulo City

demographics CBSA

market highlights • A showcase building in the City

Bermuda

Square Miles

demographics

• The Real Estate Funds in 2012

São Paulo City

CBSA

of Hamilton, located at 141 Front St., was completed in September 2010 and is currently at 80 percent occupancy.

market highlights

Square Miles

achieved an average return of 40 percent per annual.

• According to the index FipeZap,

3,070

property used appreciated 13.7 percent per annual.

• Vacancy level in secondary space has Population

increased due to high level of new space on the market at affordable prices.

64,268

Households

34,110

Household Income Median

38,097

Unemployment

6.00%

11,500,000

• New developed properties increased

31 percent in 2012.

Households

• Waterloo House, approximately

$69,183 USD

Employees (Total)

Population

20,000 SF of premier waterfront property in Hamilton, is on track with completion expected in 2013 with 90 percent already preleased.

N/A

• There was a slowdown in deliveries

of new buildings due to lack of manpower and finishing materials.

Household Income Median

R$39.450

• The granting of mortgage loans in

2013 will increase 15 percent.

• The inventory of commercial

Employees (Total)

properties listed islandwide for sale has grown tremendously in the last couple years to record levels of $90 million.

N/A

• Real estate loans quadrupled from

2008 to 2012.

Unemployment

10.50%

• Demand has increased marginally

over 2011 levels, but residential transactions are approximately 70 percent down from 2008.

• As an island destination, foreigners

often look to purchase in Bermuda. It is expected that government will Coldwell Banker Commercial soon relax purchasing requirements for foreigners. Bermuda Realty 11 Par la Ville Rd. Hamilton, Bermuda HM HX (441) 292-1793 www.bermudacommercial.com

contact

OFFICE

contact Coldwell Banker Commercial Brasil - SP Av. Paulista 2518 cj. 82 São Paulo, SP, Brazil 01 310-300 (+55) (11) 4508-1018 www.coldwellbankercommercial.com.br

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

Canada - Aurora, Ontario

demographics

market highlights

demographics

• Aurora is home to the Magna

Aurora, Ontario

CBSA

Canada - Barrie, Ontario

• Aurora is a highly affluent town

Population

53,203

• New construction currently resides

Population

136,063

Households

16,000

• Resale home prices continue to rise

Households

51,305

Square Miles

about 20kms north of Toronto.

on the east and west sides of Leslie Street.

Barrie.

• Low tax rates and high tech

Square Miles

• IBM opened a Smart Data Centre in

Barrie, Ontario

CBSA

International Headquarters and State Farm’s national head offices.

market highlights

employment are keeping vacancy rates low.

• The Barrie population is one of the

fastest growing in Canada.

• The housing market remains strong

in Barrie.

in high demand in Aurora.

Household Income Median Employees (Total)

24,509

Unemployment

1.20%

• Greenspace just outside city limits

Household Income Median

• Aurora’s population is expected to

$155,463

reach 70,000 by 2020.

• Aurora’s twin city is Leksand, Sweden.

has been approved for development.

$67,500

Employees (Total)

97,657

Unemployment

4.26%

contact

Coldwell Banker Commercial The Real Estate Centre 2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700 www.CBTRECCommercial.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

Canada - Calgary, Alberta

demographics

market highlights

Square Miles

CBSA

of positive absorption in Calgary’s downtown core in 2012. This is down from 2.8 million SF absorption.

280

Population

demographics

• There was more than 1.8 million SF

Calgary, Alberta

CBSA

Canada - Courtenay/Vancouver Island, BC

downtown Office space was added in 2012, all of which is fully leased.

1,214,839

Courtenay, BC

construction, will add 1.7 million SF to the downtown inventory and are projected to be completed in 2014 and 2016. Much of the space has been pre-leased.

N/A

Household Income Median

$89,490

Population

66,385

Households

25,819

• Among the changes in the area are

the new 142,000 SF Costco, new Value Village, and the renovation and expansion of both Target and Walmart Supercenters.

• Recently built was a new Crown Isle

Household Income Median

Shopping Centre with anchor tenant Thrifty Foods, CIBC.

$33,030

• Five additional towers totaling over Employees (Total)

2.75 million SF have applied for development or re-development permits.

N/A

Unemployment

Employees (Total)

• Two major downtown tenants

4.20%

• $156,000,000 worth of permits were

N/A

taken out in 2012.

• Phase 1 (69 lots) of a new 300 lot

Unemployment

have announced a move out of the downtown core to suburban locations. This will free up more than 800,000 SF of a Class A Office space in 2014.

residential subdivision is selling. General Housing rates started down, but are stable.

5.80%

contact

Coldwell Banker Commercial West Real Estate 1150, 1122 4th St. SW Calgary, Alberta T2R 1M1 (403) 984-9877 www.cbcwestrealestate.ca

Coldwell Banker Commercial Slegg Realty 350 17th St. Courtenay, British Columbia V9N 1Y4 (250) 898-8790 www.cbcworldwide.com

OFFICE

retail

2013 valued at $550,000,000.

sub-station will be located at the north of Buckey Bay.

1,724

• Two new towers, currently under Households

• New Hospital construction starting • A new $28,000,000 electricity

Square Miles

• More than a million SF of new

market highlights

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

Canada - Innisfil, Ontario

demographics

market highlights

• Innisfil’s commercial core is being

Population

32,727

• Innisfil new home construction is

Households

13,797

• Located on Lake Simcoe, Cottage

Square Miles

revitalized to suit new business.

growing by an estimated 6.1 percent annually.

$71,676

• Target has moved into the area. • Vacancy is on the decline due to

an increase in immigration and relocation into Nanaimo.

494

• New commercial construction is on

Lakefront properties are in high demand.

Household Income Median

market highlights

Nanaimo/ Vancouver Island, BC

CBSA

is becoming a high demand community to live in.

109

Square Miles

demographics

• Located just outside Barrie, Innisfil

Innisfil, Ontario

CBSA

Canada - Nanaimo/Vancouver Island, BC

Population

154,227

Households

35,000

Household Income Median

• The area is host to large amounts of

the steady rise with numerous strata Office space coming to the market to meet the growing demand of ownership.

• The residential market is still active

with considerable new developments on the rise.

$37,657

• The market is now influxed with the

rural areas with loads of potential.

Employees (Total)

12,040

Unemployment

4.30%

• The Georgian Downs Harness

Racetrack is located Along the highway in Innisfil.

Employees (Total)

80,000

Unemployment

7.60%

shipping container port highly active, making business in the island more affordable as it is a ferry ride or sea plane ride away from the second hottest real estate market in the world - Vancouver.

• Nanaimo is the hub city with its

centralization on the island. The international University, and affordable oceanfront living make it the number one choice for new immigrants and retiring baby boomers.

contact

Coldwell Banker Commercial The Real Estate Centre 2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700 www.CBTRECCommercial.com

Coldwell Banker Commercial Slegg Realty #17-4980 Rutherford Rd. Nanaimo, British Columbia V9T 4Z4 (866) 664-3444 www.cbcworldwide.com

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

Canada - Newmarket, Ontario

demographics

market highlights

demographics

• Magna is still a major employer for

Newmarket, Ontario

CBSA

Canada - Orillia, Ontario

CBSA

the Newmarket Area.

• Vacancy is falling due to the

Square Miles

successful local business climate.

market highlights

Orillia, Ontario

Drive nears its halfway point.

83,000

bringing new small businesses into the area.

Population

30,586

Households

11,234

• The city has experienced moderate

growth at rates around 1.9 percent.

• Residential development continues in Households

north-west and south-east sections of the town.

26,000

• Redevelopment of Davis Drive will

Household Income Median

• New homes are being constructed in

the north-west section of the city.

• The large public sector employer

Household Income Median

change the face of Newmarket.

$96,680

remains the Ontario Provincal Police Headquarters.

$56,951

• Newmarket is home to Southlake Employees (Total)

66,305

Unemployment

1.30%

Regional Health Centre and Stronach Cancer Centre.

Employees (Total)

11,324

Unemployment

4.23%

• Orillia is known as the “Sunshine

City” or “Mariposa”, taking the moniker from the Sunshine Sketches of a Little Town by Stephen Leacock.

contact

Coldwell Banker Commercial The Real Estate Centre 2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700 www.CBTRECCommercial.com

OFFICE

retail

employer in the area.

• The downtown revitalization is

Square Miles

• The rapid transit project for Davis Population

• Casino Rama remains Orillia’s largest

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

Canada - Ottawa, Ontario

demographics

market highlights

Square Miles

relocate departments to the suburbs, thereby creating opportunities for current downtown private sector tenants to reduce rental costs via relocations and suburban tenants looking to relocate closer to downtown to take advantage of lease deals.

1,801

Population

demographics

market highlights

• Federal Government continues to

Ottawa, Ontario

CBSA

Canada - Richmond Hill, Ontario

1,200,000

CBSA

Richmond Hill

Square Miles

420,000

Household Income Median

$93,280 USD

Employees (Total)

tremendous.

Population

Unemployment

to increase across the region while downtown remains static (6.7 percent) in 2013, and Kanata’s vacancy is expected to decline (to 9.8 percent) as landlords experience both new and expanded tenancies.

185,541

Households

• Most new developments reside

the redevelopment of Lansdowne Park and Bayshore Shopping Mall (160,000 SF expansion). They are expected to attract new retail tenants and increase employment opportunities.

5.90%

along Jefferson Sideroad, but there are multiple infill projects across the town.

46,075

• Most business in Richmond Hill

Household Income Median

• New developments include Westboro,

760,200

Institutional growths were valued at $88.9 million and were up from $67.9 million in 1998.

• Yonge Street’s condo development is

• Overall vacancy rates are expected Households

• In 1999, Industrial, Commercial and

consist of small businesses with more than half of all employers in the town having four workers or less.

$80,121

Employees (Total)

95,432

Unemployment

3.77%

• Once considered the “Rose Capital

of the World”, Richmond Hill has in recent years seen a huge population upsurge, being Canada’s fastestgrowing community in the 1990s.

• Residential condo developments

continue to be active and in demand for both Residential and Retail clients.

• New community mall developments

are attracting large U.S. retailers like Target and Loews in the suburban markets.

contact

Coldwell Banker Commercial First Ottawa realty, • Local and national economy are Brokerage affecting the manufacturing sector. 1419 Carling Ave., Suite 219 Large plants and operations are Ottawa, Ontario K1Z 7L6 looking to trim expenses by relocating (613) 728-2664 www.ottawacommercialproperties.com to larger centers (Toronto, Montreal) or by consolidating operations.

OFFICE

Coldwell Banker Commercial The Real Estate Centre 2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700 www.CBTRECCommercial.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

Canada - Trail, British Columbia

demographics CBSA

market highlights

19,208

Households

8,540

Household Income Median

• Key infastructure includes Selkirk

College, Regional Hospital, Teck Resources (#1 employer with a high expansion planned) High Tech Junior Companies and E-Waste Recycling.

• The Residential market has lost value

over the past 5 years, and there is an unbalanced inventory with excess inventory forcing prices downward.

$63,237

market highlights • The area is home to Canada’s

Vaughan, Ontario

CBSA

located between Vancouver, Calgary and the USA Border is a highly desirable region.

Population

demographics

• The portion of Canada strategically

Trail, BC

Square Miles

Canada - Vaughan, Ontario

Wonderland and the McMichael Art Gallery.

Square Miles

273,500

• Vacancy is falling due to successful

Population

288,301

• Industrial development along

Households

69,535

• Vaughan is one of southern Ontario’s

Household Income Median

$84,312

Employees (Total)

210,100

local business climate.

Highway 400 dominates the real estate development. fastest growing cities. According to Statistics Canada, the population grew 37.3 percent in a mere fouryear period (more than 9.3 percent annually).

• New developement in the past 5 Employees (Total)

years includes 4 major businesses plus a Walmart.

4,932

• West Kootenay Area is nicely located

Unemployment

just 2 hours North of Spokane Washington which is a major shopping and transportation hub as well as an international airport.

6.30%

• The population has doubled since

1991.

Unemployment

• Mackenzie Vaughan Hospital is the

3.20%

new hospital proposed along Major Mackenzie Drive (between Highway 400 and Jane Street).

• This is highly desirable lifestyle with

beautiful ski hills with the largest expansion, great golfing, warm lakes, mountain biking and hiking. Life here is as good as it gets!

contact

Coldwell Banker Commercial 1st Trail Real Estate Ltd. 1252 Bay Ave. Trail, British Columbia V1R4A6 (250) 368-5222 www.cbcworldwide.com

OFFICE

Coldwell Banker Commercial The Real Estate Centre 2162 Major Mackenzie Dr. Vaughan, Ontario L6A 1P7 (905) 737-5700 www.CBTRECCommercial.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

N/A

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

N/A

Rental Rates

N/A

Rental Rates

Canada - Waterloo Region, Ontario

demographics

market highlights

Square Miles

543,700

Households

drawing builders and investors to the region. This project, set to open in 2017, is fueling real estate values in the downtown areas.

194,890

Household Income Median Employees (Total)

Unemployment

Square Miles

• The Light Rail Transit project (LRT) is

$74,490 CDN

• Four new significant Retail

282,300

• Coldwell Banker Commercial Peter

6.60%

10,815,197

Households

3,737,938

is a growing sector in Greece and forecasts for 2013 foresee further growth. As a result, a significant mobility from foreign and domestic investors is observed the last few months. Tourism as a spearhead of Greek economy creates great opportunities in Vacation/Second home Greek market.

• The business environment is

becoming significantly more friendly. As a result, there has been significant simplification of structures and administrative procedures, facilitating investments in tourism. Furthermore, new investment products such as ‘tourist villages’ are currently considered to be introduced.

20,202

3,837,900

Unemployment

• Residential and commercial property

27%

transactions and prices are still on a downturn creating huge opportunities in the Greek Real Estate market for buyers.

• In addition, a large number of public

• Passport to Success introduces

properties (ports, marinas, airports, sites for commercial and tourist development, etc.) are becoming Coldwell Banker Commercial available for privatization through Hellenic Republic Asset Development Hellas 8 Omirou St. & Fund SA, aiming to bring foreign Panepistimiou Ave. investments and estimated to Athens, Attica 10564 generate 23 billion euros in the (+30) (210) 322-8228 Greek economy.

companies and businesses to the Waterloo Region as a potential Coldwell Banker Commercial location to consider for future development or investment. Guests Peter Benninger Realty, tour the region and network with the Brokerage 508 Riverbend Dr. thriving business community, and Kitchener-Waterloo, this year guests from as far away as Ontario N2K 3S2 China attended. (519) 743-5211 www.coldwellbankercommercial.ca

contact

OFFICE

Population

Employees (Total)

Benninger Realty was privileged once again to host a luncheon for the 17th annual Passport to Success Event, a complimentary two-day business event held annually during Oktoberfest, North America’s largest Bavarian festival, hosted by Waterloo Region.

• In spite of global recession, tourism

50,949

Household Income Median

developments are currently planned or undergoing construction.

market highlights

Athens, Greece

CBSA

offered up by Research in Motion (now known as BlackBerry) was quickly absorbed in the marketplace with another major employer in the region, ManuLife Financial, taking over 100 thousand.

528

Population

demographics

• Over 200 thousand SF of Office space

Waterloo Region

CBSA

Greece

contact

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

India - Mumbai

demographics CBSA

market highlights

demographics

• Business Systems & Solutions and

Mumbai

Square Miles

Ireland - Dublin

CBSA

Cabott which leased space in Kesar Solitaire at Nerul and Enam Securities leased space in Express Towers at Nariman Point.

233

market highlights

Dublin, Ireland

activity in trading.

70,280

• AIB Bank is expected to double its

supply then demand of commercial spaces and not much commercial demand

Population

• Pinnacle Tower at BKC (SBD BKC) and

Households

20,500,000

Households

2,051,000

6,326

Employees (Total)

N/A

Unemployment

N/A

residential mortgage lending in 2013.

4,450,000

• Dublin residential home prices have

stabilized.

1,850,000

• Mortgage rates have increased.

Mindspace 1 Building 1 at Airoli have changed the vacancy rate.

Household Income Median

absorb supply of retail units.

• The Georgian office market is seeing

Square Miles

• Vacancy is rising due to higher Population

• Discount retailers have helped

Household Income Median

• Residential sales declined in June,

but decline was primarily in the luxury segment.

Employees (Total)

• There was not much of a change in

the commercial markert from 2011, but residential saw marginal increase from 2011.

• Ireland assumes Presidency of EU for

€ 33,000

first 6 months of 2013.

2,000,000

Unemployment

14%

• Phase 1 of Mumbai Mon Rail,

connecting Wadla to Chembur, is expected to be completed by 2013.

contact

Coldwell Banker Commercial Goodwill Consultants 515, Arun Chambers, Tardeo Mumbai, Maharasthra 400034 (+91) (22) 6662-7090 www.coldwellbankergc.com

Coldwell Banker Commercial Property Consultants 32 Lower Leeson St. Dublin, Ireland 2 (+ 353) (1) 411-0012 www.coldwellbankercommercial.ie

OFFICE

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Vacancy

Absorption

N/A

Absorption

Rental Rates

N/A

Rental Rates

Italy

Mexico - Mexico City

demographics CBSA

market highlights • Corporate investments were stable

Rome, Italy

Square Miles

60,900,000

Households

25,000,000

CBSA

in the period 2009 to 2011 (average approximately 4.2 billion) but were reduced to one third in 2012 (1.2 to 1.8 billion - of which, 40 percent are Offices and 24 percent are Hotels).

301

Population

demographics

market highlights • Mexico has managed to position

Mexico City

Square Miles

itself as one of the 20 most attractive markets at an international level for the construction of department and convenience stores.

571

• Outlined by stiff competition, the

• Operators do not predict large drops

Population

in prices. The repricing in Italy should not be profound; rather, there will be a further decrease of less than 5%.

Retail sector is becoming more important every day. These markets are essential in the paths that create synergies, partnerships and efficiencies.

23,000,000

Households

N/A

• In Real Estate Funds in 2012, there Household Income Median

was a further increase in assets to about € 40 billion, although the number of funds has dropped due to the closure of many “familiar” funds that were penalized by taxation. The composition of funds consists of Offices representing 60%, Commercial 19%, Logistics and Industrial 6%, Residential 3% and the development funds 12%.

32,712

Employees (Total)

22,723,000

Unemployment

11.20%

• During 2012, sales on department

Household Income Median

$35,000 MXN

Employees (Total)

• The total stock in the Mexico City

8,600,000

Unemployment

Class A+ to A Office market has 3.9 million SF at 2012 year-end, which represents an increase of 4.6 percent compared to the end of 2011.

3.90%

• 2012 was a record year in Office

space absorption exceeding the half a million SM (530 SM), of which 62 percent was in the Insurgentes, Santa Fe and Polanco corridors.

• The Hotel market continues a

positive interest in the Art’s Cities. Qatar Holding Fund is ready to invest a billion dollars to make the Emerald Coast in Sardinia, a luxury tourist hub.

contact

• The average rent price remained

contact

Coldwell Banker Commercial S.p.A. • In Shopping Mall Centers, rents Galleria del Corso, 2 are confirmed stable in established Milan, Italy 20122 centers. The frequent renegotiations and commercialization in the area Via Sardegna, 50 generally require more time. In the Rome, Italy, 00187 High Street of the main Italian cities, (+39) (063) 974-0456 due to limited availability, demand www.cbcommercial.it remains strong for the best positions.

OFFICE

stores grew 8.1 percent compared to 2011.

stable throughout 2012 at $25.6 USD Coldwell Banker Commercial SM per month. Mexico Montes Urales 415 1 Lomas de Chapultepec Mexico, Mexico 11000 (152) (554) 162-1000 www.cbcmexico.mx

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A

Panama

Puerto Rico

demographics CBSA

market highlights • Panama has a great connectivity through

Panama

Square Miles

land, sea and air. An open service economy, economic political and social stability, a dollarized economy, an international financial center, and a world class logistics platform make Panama the ideal site for doing business in the region.

29,762

Population

demographics

3,405,813

CBSA

market highlights • Several major franchises are locating

Puerto Rico

Square Miles

to the island, including: Winn Dixie, Olive Garden, Red Lobster and CVS.

• Vacancy is high due to several major

3,562

Population

Industrial operations relocating to the U.S. mainland.

1,375,002

• New construction is down 30 percent

but sales are up due to Island tax incentives.

• Panama is very pro-business and has Households

1,063,209

Household Income Median

$958.43 USD

Employees (Total)

1,500,854

Unemployment

enacted tax breaks and broad economic initiatives to incentivize companies to relocate. Multinational companies have been setting up shop in Panama since 2007, and these executive relocations mean furnished rental demand in certain sectors of Panama City.

Households

• Increase in residential real estate Household Income Median

inventory due to many locals relocating and foreclosed homes.

$32,543

• Property values on both Residential

• Families moving from other countries are

drawn to Panama for its comparatively affordable lifestyle, excellent private school system and its relatively safe urban center in Panama City. Furthermore, many Asian and European countries are just starting to discover Panama tourism.

856,231

Employees (Total)

642,346

Unemployment

12.50%

and commercial have dropped 30 percent from last year.

• Many foreign buyers are taking

advantage of the great tax incentives for buying real estate in Puerto Rico.

• Panama’s banks are continuing to

write mortgages while flush with cash, meaning there is ample credit for buyers.

contact

Coldwell Banker Commercial• The government is consistently investing in new infrastructure to make the Location Realty, S.A. city more attractive and more livable. Punta Pacifica Pacific Village Offices Tower Examples include: fast tracking pro2nd Floor, Suite 2 business laws and policies, including free Panama City, Panama trade agreements, and tax incentives and (507) 300-1010 government sponsored initiatives. www.cblocationrealty.com

OFFICE

retail

contact Coldwell Banker Commercial KF Real Estate 530 Constitution Ave. San Juan, Puerto Rico 00901 (787) 433-0077 www.cbcommercialpr.com

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

Spain - Barcelona/Cataluña Region

demographics

market highlights

Square Miles

46,800,000

Households

drop in property prices has reflected the changes. This has forced vacancy down and made the country an attractive investment opportunity.

17,960 EUR

Employees (Total)

16,900,000

Unemployment

26.02%

€22bn “Euro Vegas” project will see the construction of Europe’s biggest casino resort in Alcorcón, near Madrid. The Marina Port Vell, in Barcelona, is undergoing major redevelopment for berthing super yachts. The theme park Port Aventura (Salou, near Barcelona) is redeveloping its water park.

• It is a perfect time to invest in Spain.

Property prices are at a 7 year low, and owners are willing to study offers.

504,782

Population

45,000,000

Households

15,000,000

Household Income Median

• Las Vegas Sands corporation’s

market highlights

Spain

Square Miles

• Spain’s country risk has lessened. The

17,100,000

Household Income Median

CBSA

investor Pontegadea’s acquisition of Torre Picasso in Madrid, BBVA headquarters location in Barcelona, and the Apple store location in Paseo de Gracia, Barcelona for approx. €580M.

1,249

Population

demographics

• Changes in the area include: Spanish

Barcelona/ Cataluña Region

CBSA

Spain

Employees (Total)

Unemployment

• The economic crisis in Spain has

decimated the Commercial sector, leaving incredible opportunities behind.

• Due to the glut of commercial space

available, new construction is not occurring at this time.

$23,541 USD

• The residential market is now at the

23,000,000

• There is practically no bank financing

available for individual buyers. Due to the property stock level of the banks, they want to sell their own product before financing properties outside their system.

25%

• The unemployment rate in Spain

• Despite five years of falling

is at an all time high and until this situation improves, commercial and housing prices will continue to fall.

transactions, 2012 saw Residential property transactions rise by 58 percent over the previous year. This may be attributed to tax concessions contact with newly built properties. Property Coldwell Banker Commercial asking prices have fallen, and Spain continues to attract foreign buyers. Spain Avda. Diagonal 433, 3º 2ª Barcelona, Cataluña 8036 • Discounted property from Spain’s (+34) (93) 241-3082 virtual ‘Bad Bank’ offers significant www.coldwellbanker.es discounts [up to 85 percent] on new builds and second-hand properties plus undeveloped land.

OFFICE

same level as 2002, but continues to decline.

contact Coldwell Banker Commercial Las Rozas de Madrid, Spain Calle Playa del Sardinero 18 Las Rozas de Madrid, Spain 28290 (+34) (91) 636-3780 www.cblasrozas.com

retail

OFFICE

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Industrial

Multi-Family

Vacancy

Absorption

Rental Rates

United Arab Emirates - Dubai

demographics CBSA

market highlights • JW Marriott Marquis opened its

Dubai, UAB

Square Miles

doors for operations in the Business Bay district, becoming the world’s tallest hotel in the world.

4,110

Population

• With the consumer/investor

confidence growing, there is a high level of demand in every sector (Retail/Residential/Commercial/ Hospitality/Industry)

2,003,170

Households

203,140

• Princess Tower, the tallest residential

tower, was completed and ready for occupation.

Household Income Median

327

Employees (Total)

• The overall residential market has

recorded a positive year, with the villa market continuing to outperform the Apartment sector. Prime projects in well established locations continue to see improved performance, but secondary locations are still suffering from rental and pricing declines

1,325,949

Unemployment

N/A

• After 2008 and for the first time in

2012, Dubai’s market witnessed the sales of off-plan projects and plots for development.

contact Coldwell Banker Commercial UAE (Mega Homes Real Estate) Suite 2804 The Citadel Corporate Tower Business Bay Dubai, United Arab Emirates P.O. Box 73618 (+971) (4) 439-1200 www.coldwellbanker-ae.com

OFFICE

• Emaar and Dubai Holding unveiled

the first project as part of their joint venture launched in November, the Mohammed Bin Rashid City (MBR City). The mega project will include the world’s biggest shopping mall, a Universal family theme park and a park that is a third bigger than Hyde Park in London.

retail

Vacancy

Absorption

Rental Rates

Industrial

Multi-Family

Vacancy

N/A

Absorption

N/A

Rental Rates

N/A 83

Index by Market Acadiana, LA Albany, NY Albuquerque, NM Amarillo, TX Anchorage, AK Athens, GA Atlanta, GA Austin, TX Bakersfield, CA Billings, MT Birmingham, AL Bloomington/Normal/McLean, IL Boca Raton/Palm Beach County, FL Boise, ID Bryan/College Station, TX Central & Northern, NJ Central, IL Central, MN Champaign/Urbana, IL Charleston, SC Charlotte, NC Chattanooga Metro, TN Cheyenne Metro, WY Chicago, Southwest, IL Chicagoland, IL Chico, CA Cincinnati, OH Columbia, SC Dalton/Whitfield County, GA Dayton, OH Daytona Beach/Ormond Beach, FL Deltona, FL Dothan/Houston County, AL East Lansing MSA, MI East, TN Eastern Shore, MD Eastern, ID El Paso, TX Fairfield County, CT Fargo/Moorhead, ND Florida Keys/Key West, FL Fort Lauderdale/Broward County, FL Fort Wayne, IN Fredericksburg Region, VA Gainesville, FL Garden City, KS Greenville, SC Gulfport/Biloxi, MS Henderson, NC Hinesville/Fort Stewart, GA Honolulu, HI Houston, TX Indianapolis MSA, IN Inland Empire North/Victor Valley, CA Inland Empire, CA Jacksonville, FL Janesville/Beloit, WI Kansas City Metro, KS-MO King County, WA Lakeland/Winter Haven, FL Lexington, KY Lincoln, NE Little Rock, AR Long Beach/South Bay, CA Long Island, NY Los Angeles, Westside, CA Los Angeles/Los Angeles, West, CA Louisville Metro, KY Lubbock, TX Lynchburg, VA Macon/Bibb County, GA Madison, Greater, WI Mankato, MN Melbourne/Brevard County, FL Melbourne/Palm Bay/Titusville, FL Merced MSA, CA Miami/Dade, FL Midcoast, ME Minneapolis/St. Paul Metro, MN Modesto, CA Montgomery, AL

39 49 48 60 5 27 28 60 7 45 4 32 16 31 61 47 32 42 33 56 51 58 70 33 34 7 52 57 28 53 17 17 4 41 59 41 31 61 15 52 18 18 35 66 19 37 57 44 51 29 30 62 36 8 8 19 69 37 67 20 38 46 6 9 49 10 9 38 62 66 29 69 43 20 21 10 21 40 43 11 5

Muncie, IN Napa Valley/Napa County, CA Naples/Ft. Myers, FL Nashville, TN New Orleans, LA New York City, NY Newport Beach, CA Northern, NJ Oakland/East Bay, CA Ocean County, NJ Oklahoma City Metro, OK Orange County, CA Orlando, FL Palm Beach, FL Pittsburgh, PA Portland, OR Punta Gorda, FL Reno/Sparks MSA, NV Rio Grande Valley, TX Riverside/South West, CA Rochester, NY Salem, OR Salt Lake Market, UT San Gabriel/San Fernando Valleys, CA San Mateo County/Peninsula, CA Sarasota/Manatee Counties, FL Savannah, GA Sedona/Verde Valley, AZ South/Central, TX Southeast, TX Southeastern, PA Southern, KY Southern, OR Southwest, WA Spartanburg, SC Springfield, IL Springfield, MO St. Joseph, MO-KS St. Lucie County, FL St. Lucie/Martin Counties, FL Sussex County, DE Tacoma, WA Tallahassee, FL Tampa, Greater Area, FL Tampa/St. Petersburg, FL Tazewell County, IL Victoria, TX Waco/McLennan County, TX Western, CO Western, MI Williamsburg/Hampton Roads, VA Winter Haven, FL

36 11 22 59 40 50 12 47 12 48 53 13 22 23 55 54 23 46 63 13 50 54 65 14 14 24 30 6 63 64 56 39 55 68 58 34 44 45 24 25 16 68 25 26 26 35 64 65 15 42 67 27

INTERNATIONAL MARKETS Bermuda Brazil - S達o Paulo City Canada Aurora, Ontario Barrie, Ontario Calgary, Alberta Courtenay/Vancouver Island, BC Innisfil, Ontario Nanaimo/Vancouver Island, BC Newmarket, Ontario Orillia, Ontario Ottawa, Ontario Richmond Hill, Ontario Trail, British Columbia Vaughan, Ontario Waterloo Region, Ontario Greece India - Mumbai Ireland - Dublin Italy Mexico - Mexico City Panama Puerto Rico Spain - Barcelona/Catalu単a Region Spain United Arab Emirates - Dubai

71 71 72 72 73 73 74 74 75 75 76 76 77 77 78 78 79 79 80 80 81 81 82 82 83

Sources of Information Each market information comes from the CBC affiliate listed as the contact. Information is deemed from sources considered reliable. Various sources of the data include but are not limited to: CoStar, Reis and LoopNet. Demographic information was accessed from EASI Demographics and 2010 Census. A Core Based Statistical Area (CBSA) is a U.S. geographic area defined by the Office of Management and Budget (OMB) based around an urban center of at least 10,000 people and adjacent areas that are socioeconomically tied to the urban center by commuting. Unemployment numbers were taken from Bureau of Labor Statistics.

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